USDCAD Forecast: Analyzing BOC and Fed Interest Rate Impacts on Support and Resistance
USDCAD Outlook Amid BOC and Fed Decisions
The USDCAD pair has shown resilience, extending its winning streak for three consecutive trading sessions. With the Loonie trading comfortably above the 1.3800 mark, traders are eyeing a potential resurgence to the 11-month high of 1.3840. The recent decisions from the Bank of Canada (BOC) and the Federal Reserve (Fed) regarding interest rates play a pivotal role in this forecast.
Key Support and Resistance Levels
- Support Level: 1.3800
- Resistance Level: 1.3840
These levels are crucial as the market reacts to economic indicators and central bank policies. The upcoming reports and statements from the BOC and Fed could further sway the trajectory of USDCAD. Traders and investors are advised to closely monitor these developments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.