USD/CAD jumped to 1.3456 soon before press time, the highest level since March 8, possibly on the back of broad-based US dollar strengthen and expectations that the Bank of Canada will adopt a neutral stance on interest rates later today and raise growth forecasts lower. Notably, the currency pair is currently trading above the upper edge of the contracting triangle, as seen on the daily chart. A breakout would be confirmed if the pair remains above that key hurdle post the Bank of Canada’s rate decision, due today at 14:00 GMT. That would open the doors to a retest of January highs above 1.3660. The outlook would turn bearish if and when the spot finds acceptance below the lower edge of the triangle. Daily chart Trend: Cautiously bullish Pivot points 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 NZD/USD Technical Analysis: 0.6610, 0.6585 can lure sellers after 61.8% Fibo. breaks FX Street 4 years USD/CAD jumped to 1.3456 soon before press time, the highest level since March 8, possibly on the back of broad-based US dollar strengthen and expectations that the Bank of Canada will adopt a neutral stance on interest rates later today and raise growth forecasts lower. Notably, the currency pair is currently trading above the upper edge of the contracting triangle, as seen on the daily chart. A breakout would be confirmed if the pair remains above that key hurdle post the Bank of Canada's rate decision, due today at 14:00 GMT. That would open the doors to… 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.