FX:USDCAD   U.S. Dollar/Canadian Dollar
53 0 2
Current trend

The pair continues growing despite results of the Federal Reserve monetary policy meeting. The Regulator decided to keep its current monetary policy unchanged and noted in the Monetary Policy Statement that only one more rate increase should be expected this year. The Canadian Dollar             came under pressure, as Governor of the Bank of Canada Stephen Poloz expressed concerns regarding the pace of economic growth in the country.
It should be noted that oil             prices have a strong impact on dynamics in the pair, and if a downward correction in the oil             market continues, the pair might get support.

Support and resistance

On the daily chart , the price broke out the middle MA of Bollinger Bands . The price range is widening that suggests the current trend is likely to continue. MACD is hovering around the zero line. Stochastic is in the overbought zone.
The indicators recommend long positions.

Support levels: 1.3002, 1.2978, 1.2951, 1.2909, 1.2871, 1.2834, 1.2786, 1.2730, 1.2692, 1.2663.
Resistance levels: 1.3093, 1.3122, 1.3168, 1.3186, 1.3237.

Trading tips

Long positions can be opened from the current level with the target at 1.3093 and stop-loss at 1.2951. Validity – 1-3 days.
Short positions can be opened from the level of 1.3122 with the target at 1.3002 and stop-loss at 1.3168. Validity – 1-2 days.
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