- USD/CAD bouncing-off support
- Trump temporarily reopens government
Price Movement
Since last Friday, USD/CAD moved downwards by more than 100pips.
Trend
USD/CAD is currently moving on a downtrend.
Macro Background
No major economic data release.
Important Issue
U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress If the immigration deal is not to the president’s liking.
Technical
Last Friday, USD/CAD broke the 1.33 level and is currently bouncing-off the support level of 1.32108.
Price Levels
Current Price: 1.32171
Next Resistance: 1.33570
Next Support: 1.32108