Markets are expecting a Bank of Canada rate cut later today (Wednesday), while Friday’s US nonfarm payrolls (NFP) report could inject further volatility for USDCAD. These top-tier economic events could amplify the loonie's struggles.
USDCAD is testing key resistance level at 200-period SMA
A break below this important level could drag the pair lower towards potential support levels: (1) 21-period SMA (1.345324) and (2) 23.6 (1.34572) Fibonacci level.
Markets are expecting a Bank of Canada rate cut later today (Wednesday), while Friday’s US nonfarm payrolls (NFP) report could inject further volati...
A break below this important level could drag the pair lower towards potential support levels: (1) 21-period SMA (1.345324) and (2) 23.6 (1.34572) Fib...
Canadian Dollar
CAD
USDCAD
technicals
Loading...
We value your privacy
We use cookies to give you the best-possible experience on our site and serve you personalised content. Click “Sounds good” to agree to our Cookie Policy.