USDCAD 4 HOUR CHART – PRE-BOC JITTERS
As posted in our FX Weekly Chart Outlook
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‘Look for the focus to be on the BoC meeting on Wednesday where a rate cut is widely expected.
In the meantime, 1.35 is one of those pivotal levels that would need to be solidly renewed along with a break of 1.3515 to suggest the bottom is in for now.
Given the absence of nearby resistance after the straight line move down, use our FIBO calculator for retracements to find levels of potential resistance beyond 1.35..