Overall, USD/CAD is ranging across. Recently, USD/CAD bounced off the support zone of 1.26100 after the hawkish tone delivered by the U.S. FOMC.
During the monetary policy meeting, the Bank of Canada (BoC) kept interest rate unchanged at 0.25%. The central bank has also removed its exceptional forward guidance on its policy interest rate. Furthermore, the BoC highlighted that once it starts to increase interest rate, it will consider exiting the reinvestment phase of its bond purchase and start the unloading process.
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
During the monetary policy meeting, the Bank of Canada (BoC) kept interest rate unchanged at 0.25%. The central bank has also removed its exceptional forward guidance on its policy interest rate. Furthermore, the BoC highlighted that once it starts to increase interest rate, it will consider exiting the reinvestment phase of its bond purchase and start the unloading process.
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.