Overnight, the Bank of Canada (BoC) released its decision to hold interest rates at the 4.50% level. This was in line with the overall market forecast.
However, the decision to hold rates saw the Canadian Dollar weaken (while the DXY remained on its bullish uptrend), resulting in the USDCAD claiming new highs, testing the 1.38 resistance area.
If the DXY gains further strength and breaks out to the upside, the USDCAD could first retrace briefly to test the upward trendline, before continuing to climb higher, with the next key resistance level at 1.39.
Alternatively, if the price action develops to signal a rejection of the 1.38 resistance level, the price could retrace down to the intermediate support level of 1.3740.
However, the decision to hold rates saw the Canadian Dollar weaken (while the DXY remained on its bullish uptrend), resulting in the USDCAD claiming new highs, testing the 1.38 resistance area.
If the DXY gains further strength and breaks out to the upside, the USDCAD could first retrace briefly to test the upward trendline, before continuing to climb higher, with the next key resistance level at 1.39.
Alternatively, if the price action develops to signal a rejection of the 1.38 resistance level, the price could retrace down to the intermediate support level of 1.3740.
Join my mailing list jindaotai.com/joinme
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Join my mailing list jindaotai.com/joinme
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.