USD/CAD Outlook (03 March 2022)

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Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.27.

Bank of Canada Governor Macklem will be holding an online press conference about the Economic Progress Report later at 0030 (GMT+8). During this time, there may be volatility in CAD.

During the monetary policy meeting yesterday, the Bank of Canada (BoC) hiked interest rate by 0.25%.

Currently, USD/CAD is bouncing off the support zone of 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.

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