USD/CAD meets with some fresh supply near 1.3400 mark on Wednesday. The downside remains cushioned ahead of BoC monetary policy decision. The USD/CAD pair failed to capitalize on the overnight positive move and met with some fresh supply in the vicinity of the 1.3400 round-figure mark on Wednesday. The recent pullback from nine-month tops has been finding some dip-buying near 200-hour SMA, which should now act as an important pivotal point for short-term traders. The mentioned support is closely followed by the 1.3320-15 horizontal support and the 1.3300 mark, which if broken might be seen as a key trigger for bearish traders. Meanwhile, technical indicators on hourly charts have just started drifting into the negative territory, albeit have still managed to hold with a bullish bias on the daily chart. The set-up warrants some caution before placing any aggressive bets as investors look forward to the highly anticipated BoC monetary policy decision for a fresh directional impetus. USD/CAD 1-hourly chart Technical levels to watch 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 Coronavirus update: 586 new infections in Iran since Tuesday, first confirmed case in EU offices FX Street 3 years USD/CAD meets with some fresh supply near 1.3400 mark on Wednesday. The downside remains cushioned ahead of BoC monetary policy decision. The USD/CAD pair failed to capitalize on the overnight positive move and met with some fresh supply in the vicinity of the 1.3400 round-figure mark on Wednesday. The recent pullback from nine-month tops has been finding some dip-buying near 200-hour SMA, which should now act as an important pivotal point for short-term traders. The mentioned support is closely followed by the 1.3320-15 horizontal support and the 1.3300 mark, which if broken might be seen as a key trigger for… 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.
