Weekly trade idea on USD/CAD
Key event: CAD. Interest RateInterest rate at which major financial institutions borrow and lend overnight funds between themselves;
We expect a similar reading than the previous month.
Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse actual trend direction.
- Resistance 1.2630, 1.2750, 1.2900
- Support 1.2400, 1.2255
Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.