The governor Poloz indicated he was in no rush to resume monetary tightening, saying that while interest rates needed to move up into a neutral range over time the path back was now “highly uncertain.” His tone is more dovish than market expects, which suppresses Canadian dollar. Currently, it's forming a new butterfly pattern of rebound from 1.3153. Temperate decline should be seen to 23.6% retracement of 1.3153 to 1.3340 at 1.3120 next. Then, further rise should be seen to 78.6% of Fib at 1.3300.
The target is 1.3300.
Turning point: 1.3210.
Above 1.3210, bullish , target price is 1.3280,then 1.3300.
Under 1.3210, bearish , target price is set at 1.3160.
RSI technical indicators are temperately bearish and have a further down trend.
Prior Strategy:
The target is 1.3300.
Turning point: 1.3210.
Above 1.3210, bullish , target price is 1.3280,then 1.3300.
Under 1.3210, bearish , target price is set at 1.3160.
RSI technical indicators are temperately bearish and have a further down trend.
Prior Strategy:
