Singapore
2020-07-15 14:44
Market analysisUSD/CAD Outlook (15 July 2020)
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Market analysis:
Overall, USD/CAD is ranging across. Recently, USD/CAD moved lower into the key level of 1.36.
The Bank of Canada (BoC) will be announcing their interest rate decision later at 2200 (SGT). The central bank is expected to keep interest rate unchanged at 0.25%. It is likely that the BoC will be carrying out more easing measures possibly in the form of large-scale asset purchases.
A press conference will be held by Governor Macklem at 2300 (SGT). During this time, volatility is expected of CAD.
Currently, USD/CAD is testing to break below the key level of 1.36. Its next support zone is at 1.35100 and the next resistance zone is at 1.36800.
If USD/CAD fails to break below the key level of 1.36, look for short-term buying opportunities of up until the interest rate decision later at 2200 (SGT).
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USD/CAD Outlook (15 July 2020)
Singapore | 2020-07-15 14:44
Overall, USD/CAD is ranging across. Recently, USD/CAD moved lower into the key level of 1.36.
The Bank of Canada (BoC) will be announcing their interest rate decision later at 2200 (SGT). The central bank is expected to keep interest rate unchanged at 0.25%. It is likely that the BoC will be carrying out more easing measures possibly in the form of large-scale asset purchases.
A press conference will be held by Governor Macklem at 2300 (SGT). During this time, volatility is expected of CAD.
Currently, USD/CAD is testing to break below the key level of 1.36. Its next support zone is at 1.35100 and the next resistance zone is at 1.36800.
If USD/CAD fails to break below the key level of 1.36, look for short-term buying opportunities of up until the interest rate decision later at 2200 (SGT).
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