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BOC rate decision, and the USDCAD is higher. What would keep that momentum going or not?

BOC rate decision, and the USDCAD is higher. What would keep that momentum going or not?
The Bank of Canada is expected to keep rates unchanged with the hope that slower growth leads to lower inflation. The USDCAD is higher going into the announcement with the high from October at 1.3783 the next target. Above that traders will look toward the swing area between 1.3807 and 1.38614 on the daily chart. The 1.38614 is the high for 2023.If the central bank biases more hawkish, moving below the rising 100-hour moving average at 1.3713 would be a key level to get to and through if the sel... Read More
Posted: Oct 25 2023, 13:35
Author Name: forexlive
Views: 091926

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