USD/CAD technical analysis: Challenging the 1.3500 figure ahead of Bank of Canada

• The Bank of Canada Interest Rate Decision and Statement are set to be released at 14:00 GMT. The news can lead to high volatility.
• USD/CAD is testing the 1.3500 key resistance, will the bulls be able to break above it this time?

USD/CAD daily chart

USD/CAD is challenging the 1.3500 figure while trading above its main simple moving averages (SMAs).

USD/CAD 4-hour chart

USD/CAD is trying to break above the 1.3500 figure which provided resistance many times in the last weeks. 

 
USD/CAD 30-minute chart

USD/CAD is trading above its main SMAs suggesting bullish momentum. Bulls are looking for a break above 1.3520 resistance to reach 1.3570 to the upside. On the flip side, a break below 1.3480 can lead to a retracement down to 1.3430 and 1.3400 the figure.

Additional key levels