USD/CAD Price Analysis: Greenback remains pressured below 1.3200 as Fed leaves rate unchanged

 

USD/CAD is trading in a range below its main daily simple moving averages (DMAs) as the Fed leaves rates unchanged as widely expected. The press conference at 19:30 GMT can potentially provide volatility.

 

 

USD/CAD is under bearish pressure below its main SMAs on the four-hour time frame. As the market broke below the 1.3200 handle, the market could continue to decline towards the 1.3160 support level, according to the Technical Confluences Indicator. 

  

 

USD/CAD is pressuring weekly lows below the main SMAs. Resistances are seen at the 1.3200, 1.3246 and 1.3282 resistance levels.