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USDCAD may find a support between 1.24 and 1.25
USDCAD may find a support between 1.24 and 1.25
Comment:
Fed made a decision to keep the int rates at 1.25% unchanged. Now USDCAD is perfectly in the range of 1.24 ~ 1.25. Technically, this pair would need a pullback to make a room to resume the down trend. The next FOMC meeting will be held in the middle of September. Happy trading!
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Comment:
A nice V turn happened around 1.24. Expect to see 1.29 before this pair heading down.
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Comment:
The central bankers' meeting did lift UCAD, but didn't last too long. The pair got rejected @ 1.2778. The support lever 1.24 ~ 1.25 failed. Keep an eye on this pair between Sep 8th and Sep 21st. It could test 1.26xx again.
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s3.amazonaws.com/tra...shots/e/ERZZQtsv.png
Comment:
Bank of Canada increased the prime rate from 0.75% to 1%. It looks like this pair could test 1.19 which was seen in May, 2015. Yet, 1.26xx would still be possible.
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