USDCAD has become corrective but still maintained the price below 1.37 area. USDCAD volatility increased as the BOC interest rate going to release.
USDCAD faces resistance at 1.3450 and trying to push higher. Currently, USDCAD trading at 1.3420 may continue higher towards 1.3450 again
Today we have the Bank of Canada’s rate decision and the market expectations are that the BoC will cut rates by 25bps. What can you expect?
USDCAD faces resistance at 1.3350 and may result in a price decline soon. USDCAD is currently trading near the 1.3338 area and may retest 1.3350 again.
BTC/USD failed to break 10500 level last week and retraced to 9500 area. From the technical point of view BTC/USD stays below both 50 Moving average (red line) and 200 Moving Average (dark blue line), which is a signal of the bearish trend.
What events will drive the market this week? Stay updated as HYCM’s analyst has shared his insights on this weekly market overview.
Last week EUR/USD fell to 1.0830 level, which is the lowest value for the pair from April 2017. From the technical point of view EUR/USD stays above 50 Moving average (red line), but below 200 Moving Average (dark blue line), which is a sign of uncertainty
BRN/USD found support around 53 level. The pair broke 200 Moving average (dark blue line) dynamic support on Wednesday and retested it from above on Thursday.
On Tuesday EUR/USD broke the bearish channel, which was holding the pair inside for the last 7 trading days. But after touching 50 Moving average (red line) dynamic resistance the pair fell to 1.0870 level, which is the lowest EUR/USD value from May 2017.
USDCAD Bears may continue the Run remaining Below 1.3300 for further bearish momentum with target toward 1.3200. The price may push further down.