Hey Traders! 👋
For Day 25/100 of our challenge, we will look at USDCAD for downside potential this week.
Technicals:
- Downtrend = creating lower lows and lower highs
- Forming resistance below pivot level
- Weekly target at 1.33
Fundamentals:
- BoC surprise hike on back of positive domestic data
- Fed uncertainties as recent data are negative and Fedspeak leaning towards a pause this month.
For Day 25/100 of our challenge, we will look at USDCAD for downside potential this week.
Technicals:
- Downtrend = creating lower lows and lower highs
- Forming resistance below pivot level
- Weekly target at 1.33
Fundamentals:
- BoC surprise hike on back of positive domestic data
- Fed uncertainties as recent data are negative and Fedspeak leaning towards a pause this month.
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