Technical Analysis
The USD/CAD pair remains in bullish territory, with buyers pushing the price higher amid a supportive backdrop of falling oil prices and expectations of a dovish BoC. A decisive move above 1.38190 could pave the way for further gains, while a break below 1.37970 would signal a shift in momentum. Market participants should stay alert to upcoming BoC policy announcements and U.S. economic data for cues on the next potential move.
Market Overview
On Monday, the USD/CAD pair continued to gain traction, driven primarily by two influential factors: a decline in oil prices and increased speculation that the Bank of Canada (BoC) may increase its pace of interest rate reductions.
The USD/CAD pair remains in bullish territory, with buyers pushing the price higher amid a supportive backdrop of falling oil prices and expectations of a dovish BoC. A decisive move above 1.38190 could pave the way for further gains, while a break below 1.37970 would signal a shift in momentum. Market participants should stay alert to upcoming BoC policy announcements and U.S. economic data for cues on the next potential move.
Market Overview
On Monday, the USD/CAD pair continued to gain traction, driven primarily by two influential factors: a decline in oil prices and increased speculation that the Bank of Canada (BoC) may increase its pace of interest rate reductions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.