USD/CAD Eyes Larger Recovery Above 1.3160, BoC Next

Key Highlights The US Dollar declined to 1.3037 and recently corrected higher against the Canadian Dollar. USD/CAD traded above a bearish trend line with resistance near 1.3080 on the 4-hours chart.The NFIB Business Optimism Index declined from 105.0 to 103.3 in June 2019.The Bank of Canada is likely to keep interest rates at 1.75% in today’s rate decision. USDCAD Tech...
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USD/CAD Tumbles Below 1.3300 Post Fed Policy

Key Highlights The US Dollar failed to surpass the 1.3430-1.3440 resistance zone against the Canadian Dollar. USD/CAD traded below a major bullish trend line with support at 1.3390 on the 4-hours chart.Canada’s Consumer Price Index (CPI) increased 0.4% (MoM), more than the +0.2% forecast.The US Initial Jobless Claims for the week ending June 15, 2019 might decline from 22...
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USD/CAD Broke Key Support, Recovery Could Be Capped

Key Highlights The US Dollar declined heavily below the 1.3400 support area against the Canadian Dollar. USD/CAD is likely to face resistance near the 1.3330 and 1.3350 levels.The US PPI in May 2019 increased 1.8% (YoY), less than the +2.0% forecast.The US CPI in May 2019 could increase 0.1% (MoM), less than the last +0.3%. USDCAD Technical Analysis In the past few da...
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USD/CAD In Strong Downtrend Below 1.3200

Key Highlights The US Dollar declined heavily and settled below 1.3200 against the Canadian Dollar. There is a crucial declining channel in place with resistance at 1.3200 on the 4-hours chart of USD/CAD. Canada’s CPI increased 0.1% (MoM) in Jan 2019, less than the 0.2% forecast. The US Gross Domestic Product for Q4 2018 (Preliminary) will be released today, whi...
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USD/CAD Could Extend Recovery Above 1.3400

Key Highlights The US Dollar started a decent recovery after testing the 1.3200 support against the Canadian Dollar. There is a major ascending channel formed with support at 1.3280 on the 4-hours chart of USD/CAD. Canada’s Retail Sales declined 0.9% in Nov 2018 (MoM), compared with the -0.6% forecast. The US Manufacturing PMI for Jan 2019 (Prelim) will be relea...
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USD/CAD Remains Well Supported On Dips

Key Highlights The US Dollar traded higher recently and broke the 1.3400 resistance against the Canadian Dollar. There is a major bullish trend line formed with support at 1.3420 on the 4-hours chart of USD/CAD. The Canadian CPI increased 1.7% in Nov 2018 (YoY), less than the forecast of 1.8%. Today, the US Initial Jobless Claims will be released, which is forecas...
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USD/CAD At Risk of More Declines Below 1.2920

Key Highlights The US Dollar failed to break the 1.3070 resistance and declined against the Canadian Dollar. USD/CAD broke a major bullish trend line with support at 1.3010 on the 4-hours chart. The US Industrial Production in Sep 2018 increased 0.3%, similar to the forecast. Today, the Euro Zone CPI for Sep 2018 will be released, which is forecasted to increase 2...
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USD/CAD Is Likely To Extend Slides Toward 1.2960

Key Highlights The US Dollar faced a major resistance near 1.3170-80 against the Canadian Dollar and declined. There was a break below a key bullish trend line with support at 1.3090 on the 4-hours chart of USD/CAD. Recently, the Canadian Wholesales Sales for June 2018 declined 0.8% (MoM). Today, the Canadian Retail Sales for June 2018 will be released, which is f...
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Can USD/CAD Hold The 1.2700 Support Zone?

Key Highlights The US Dollar struggled to settle above 1.2900 against the Canadian Dollar and declined. There is a major bearish trend line in place with resistance at 1.2860 on the 4-hours chart of USD/CAD. Canada’s Wholesale Sales in March 2018 increased 1.1% (MoM), more than the forecast of 0.6%. Today in the US, the Manufacturing PMI for May 2018 (Prelim) wi...
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Can USD/CAD Break 1.2900 Resistance?

Key Highlights The US Dollar traded higher and moved above 1.2750 against the Canadian Dollar. There is a major bullish trend line forming with support at 1.2720 on the daily chart of USD/CAD. The Canadian GDP in Feb 2018 (MoM) grew 0.4%, more than the forecast of +0.3%. Today, the ADP Employment Change for April 2018 will be released, which is forecasted to post ...
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