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USDCAD Technical Analysis - Choppiness Remains

On the daily chart below, we can see that USDCAD has been pretty much rangebound for half a year, probably because the two most hawkish central banks, the Fed and the BoC, were seen coming to the end of their tightening cycle. We have two major levels here, the support at 1.3300 and the resistance at 1.3665. The USD has recently started to appreciate across the board due to stronger than expected US economic data that made the market to reprice interest rates expectations on the hawkish side. Th... Read More

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Content Topics

Usdcad

Technical

Analysis

Choppiness

Remains

Forex

Posted: May 30 2023, 09:35

Author Name: forexlive

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