0306-USDCAD

USDCAD

BoC is ready to release the interest rate decision and projection of future economic condition.

USDCAD is obviously in uptrend channel, but it may have correction after BoC announcement, due to 1.3388~1.34 are relative resistance area that CAD may have momentum to pullback, in addition, DXY doesn't seem well after US trade balance data release.

So, in my opinion, better consider short USDCAD after BoC announcement.

Support: 1.3331 / 1.3357

Resistance: 1.3388 / 1.3418

Like if you trade, make Ideas or comments with me :D