16 Jul 2014
USD/CAD trades sideways after being shaken amid BoC rate decision
FXStreet (San Francisco) - After peaking to 1-month high at 1.0790 and then falling to daily lows at 1.0720, the USD/CAD is now trading quiet around 1.0740.
Currently, USD/CAD is trading at 1.0744, down 0.14% on the day, having posted a daily high at 1.0796 and low at 1.0723. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD sentiment
BoC Governor Poloz expressed his negative view on the Canadian outlook mainly affected by global forecast. He affirmed that the BoC doesn't have a sustainable growth picture in Canada.
To the downside, 1.0725 will be the first support ahead of 1.0705 and 1.0690. On the upside, resistances are at 1.0750, 1.0770 and 1.0790.
Currently, USD/CAD is trading at 1.0744, down 0.14% on the day, having posted a daily high at 1.0796 and low at 1.0723. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD sentiment
BoC Governor Poloz expressed his negative view on the Canadian outlook mainly affected by global forecast. He affirmed that the BoC doesn't have a sustainable growth picture in Canada.
To the downside, 1.0725 will be the first support ahead of 1.0705 and 1.0690. On the upside, resistances are at 1.0750, 1.0770 and 1.0790.