As we can see from D1 and H4 perspective, both are in a downtrend.
BOC maintain rate unchanged 0.25% resulted in huge selling pressure in UsdCad with about 150pips +- after the news is released.
Recently we can see in H4, price has just breakout of the zone B, the price may retest the resistant again before continue its sell direction.
Look for sell opportunity if the price reverses back to retest again at zone B till next target price 1.2400.
BOC maintain rate unchanged 0.25% resulted in huge selling pressure in UsdCad with about 150pips +- after the news is released.
Recently we can see in H4, price has just breakout of the zone B, the price may retest the resistant again before continue its sell direction.
Look for sell opportunity if the price reverses back to retest again at zone B till next target price 1.2400.