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Technical levels to eye for the USDCAD through the BOC decision

Discussion in 'Technical Analysis' started by ForexLive, Sep 9, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Bank of Canada expected to keep rates as is.... The BOC is expected to keep rates steady at 0.5%. Adam has a great preview. You can find it . HERE Technically, the price action has been "" for this pair. In those markets, traders get used to leaning against extremes until that time, the price breaks. The extremes currently come in at the 1.3109-16 area below and the 1.3326-51 area above. The last few days has seen traders confine the extremes by using a downward and upward sloping trend line (at 1.3177 below and 1.3297 above). In between sits the 200 and 100 hour MA (at 1.3334 and 1.3341 respectively - green and blue lines), and 50% retracement 1.3233. The price is currently trading below that area giving the trading a little negative bias going into the decision.

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