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USD/CAD has been bought every day so far this week. It was BOC meeting today and the bank used the opportunity for some dovish talk even thought the reference to Canadian dollar strength was dropped in an unusually brief statement.
The pair is up more than 250 pips, eyeing January high near 1.3390. Successful break above that would target 1.3450 - 1.35. Area between 100 DMA (1.3280) and 1.33 should hold if this rally is to continue.
The pair is up more than 250 pips, eyeing January high near 1.3390. Successful break above that would target 1.3450 - 1.35. Area between 100 DMA (1.3280) and 1.33 should hold if this rally is to continue.
