Overall, USD/CAD is trending downwards. Recently, USD/CAD traded into the support zone of 1.26100.
The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). With the ever-rising inflation in Canada, the central bank may increase interest rate by 0.25% in an attempt to tame inflation.
A press conference will be held at 0000 (GMT+8). During this time, there may be volatility in CAD.
Currently, USD/CAD is testing the support zone of 1.26100 and its next resistance zone is at 1.29200.
If USD/CAD bounces off the support zone of 1.26100, look for short-term buying opportunities of USD/CAD up until the Bank of Canada announcement at 2300 (GMT+8).
The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). With the ever-rising inflation in Canada, the central bank may increase interest rate by 0.25% in an attempt to tame inflation.
A press conference will be held at 0000 (GMT+8). During this time, there may be volatility in CAD.
Currently, USD/CAD is testing the support zone of 1.26100 and its next resistance zone is at 1.29200.
If USD/CAD bounces off the support zone of 1.26100, look for short-term buying opportunities of USD/CAD up until the Bank of Canada announcement at 2300 (GMT+8).
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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.