USD/CAD technical analysis: Greenback trades above 1.3400 ahead of BoC Gov. Poloz speech

  • Bank of Canada’s Governor, Stephen Poloz will be speaking at 15:15 GMT.
  • USD/CAD is trading in the 1.3400-1.3500 range.

USD/CAD daily chart

USD/CAD is trapped in the 1.3400-1.3500 range while it is trading above its main simple moving averages (SMAs).

USD/CAD 4-hour chart

USD/CAD is trying to find some footing above the 1.3400 figure and the 200 SMA.

USD/CAD 30-minute chart

USD/CAD is rebounding from the daily lows. Bulls would need a break above 1.3440 to reach 1.3460 and 1.3500 the figure. On the flip side, a break below 1.3400 can lead to 1.3380 and 1.3350 level.

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