Home USD/CAD Technical Analysis: Investors looking at the BoC for directions on the Loonie
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USD/CAD Technical Analysis: Investors looking at the BoC for directions on the Loonie

FX Street
Updated:

USD/CAD daily chart

  • USD/CAD is trading in a bull trend above its 200 simple moving average (SMA) as the market nearing 6.5-week’s highs.
  • The Bank of Canada monetary policy decision at 14:00 GMT can lead to high volatility in the currency pair.

USD/CAD 4-hour chart

  • USD/CAD reached the 1.3460 resistance. A break above the current resistance would be needed for bulls to move up to 1.3500 the figure and beyond.  
  • Alternatively, the bearish scenario would see a drop below 1.3440 with a potential revisit of 1.3370 level.
  • Additional key levels

Additional key levels

 

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