The USD/CAD declined on Wednesday as oil prices and stock rose while Bank of Canada held its interest rate steady at 0.50 %. The pair declined to hit low at 1.3050 after Canadian interest rate decision was announced, but…
The USD/CAD declined on Wednesday as oil prices and stock rose while Bank of Canada held its interest rate steady at 0.50 %.
The pair declined to hit low at 1.3050 after Canadian interest rate decision was announced, but recovered to trade around 1.3092 levels in the early US session.
As long the pair trades above strong support located at 1.2981 levels, the ongoing bullish trend for the pair is set to continue.
The immediate support can be seen at 1.3050, break below this level will expose the pair to next support level at 1.2981.
Major resistance can be seen at 1.3189, break above this level will expose it towards 1.3240 levels.
