The U.S. dollar, as measured by the DXY, embarked on a furious rally on Thursday after hotter-than-expected U.S. September inflation data sent Treasury yields sharply higher and increased the likelihood that the Fed will deliver another quarter-point rate hike at its December meeting. In this context, the Loonie (CAD) and the Aussie (AUD) suffered a major setback and took a beating against the greenback, with both currencies nearing their weakest levels in several months. Detailed technical analyses for AUD/USD and USD/CAD are provided below in consideration of these developments.
