USD/CAD Price Analysis: A slippage below 1.3650 to activate double top formation USDCAD GDP Fed BOC Reversal
. The USD Index has shown a solid recovery after correcting to near 104.13 on hopes that the Federal Reserve will push interest rates further in June.Gross Domestic Product
While monthly GDP remained stagnant but managed to avoid contraction as expected by the market participants. The content is insufficient to force the Bank of Canada to continue hiking interest rates again. Downward-sloping 20-period Exponential Moving Average at 1.3592 indicates that the short-term trend is bearish.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Off immediate support line to snap two-day downtrend near 1.3600USD/CAD Price Analysis: Off immediate support line to snap two-day downtrend near 1.3600 USDCAD Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »
USD/CAD Price Analysis: Bulls are grazing on the bearish correctionThe Canadian dollar edged higher against the US Dollar on Monday as a deal to temporarily suspend the US debt ceiling boosted investor sentiment. Tech
Read more »
USD/CAD Price Analysis: Loonie bears again prods two-month-old hurdle near 1.3650USD/CAD picks up bids to attack a two-month-old descending resistance line around 1.3650 heading into Wednesday’s European session. In doing so, the L
Read more »
USD/CAD Price Analysis: Bears are in the market, but bulls flexingThe Canadian Dollar strengthened on the back of data showing the domestic economy grew stronger than expected in the first quarter. USD/CAD is now bre
Read more »
WTI Price Analysis: Ascending channel break suggests further Oil price declines past $70.00WTI crude oil price holds lower grounds near $69.60 as bears take a breather during early Wednesday morning in Asia, after a heavy fall. That said, th
Read more »
USD/CAD flat-lines below 1.3600 mark as sliding Oil prices offset modest USD weaknessUSD/CAD flat-lines below 1.3600 mark as sliding Oil prices offset modest USD weakness – by hareshmenghani USDCAD Bonds Fed Inflation Currencies
Read more »