• Event risk of this week's BoC meeting is helping weigh on CAD
  
  
• Trading range for the pair is 1.2555- 1.2646
  
  
• Unexpected BoC rate cut on Jan 21 hit CAD hard
  
  
• Near term resistance at 1.2667 and 1.27

• WTI at USD 52.50/barrel, 90 cents higher on day