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  • USD/CAD has recouped the losses made after the Bank of Canada raised the overnight rate to 1.5%.  
  • Governor Poloz, in the Bank of Canada Press Conference, said that the BoC won’t react to every data point and that the situation has become “more concrete” after the actual imposition of US tariffs.
  • USD/CAD has reintegrated the 1.3120 -1.1355 trading range. A breakout above 1.3155 is needed to open the gates to 1.3200 figure and 1.3271 June 29 high resistances.  

USD/CAD 15-minute chart  

Spot rate:                   1.3153
Relative change:        0.27%  
High:                          1.3176
Low:                           1.3063

Trend:                          Neutral to Bullish

Resistance 1:            1.3155 June 18 low            
Resistance 2:            1.3200 figure  
Resistance 3:            1.3271 June 29 high
Resistance 4:            1.3350 figure
Resistance 5:            1.3388, 2018 high
Resistance 6:            1.3543 June 9, 2017 swing high6

Support 1:                 1.3120 demand level
Support 2:                 1.3120 demand level
Support 3:                 1.3066-1.3053 weekly low and June 5, swing high
Support 4:                 1.2974 May 9 high
Support 5:                 1.2900 figure