USD/CAD broke recent range after the Bank of Canada rate cut, approaching last week highs. Above 1.3400 it could rise to test 1.3435 and then 1.3465. The USD/CAD jumped to 1.3430 after the statement from the Bank of Canada announcing a 50bps rate cut. It broke above the short-term range between 1.3315 and 1.3390. The upside was capped by 1.3430 and then pulled back to 1.3400. As long as it holds above 1.3390, the dollar could rise to test 1.3435. A break higher could turn the focus to last week highs at 1.3465. A slide below 1.3390 would ease the bullish pressure, bringing the 1.3315/1.3390 range back into business. In the daily chart, the key support emerges around 1.3290/1.3300, the confluence of the 20-day moving average and an uptrend line. USD/CAD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NFP Preview: Data unlikely to reflect the coronavirus outbreak – Wells Fargo FX Street 2 years USD/CAD broke recent range after the Bank of Canada rate cut, approaching last week highs. Above 1.3400 it could rise to test 1.3435 and then 1.3465. The USD/CAD jumped to 1.3430 after the statement from the Bank of Canada announcing a 50bps rate cut. It broke above the short-term range between 1.3315 and 1.3390. The upside was capped by 1.3430 and then pulled back to 1.3400. As long as it holds above 1.3390, the dollar could rise to test 1.3435. A break higher could turn the focus to last week highs at 1.3465. A slide below 1.3390 would ease the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
