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USD/CAD: BOC begets big bearish reversal

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Heading into today’s big BOC decision, it felt like USD/CAD bears just needed to get put out of their misery. After all, the Canadian dollar had lost 11% of its value against the US dollar in last three months alone, to say nothing of the larger move from sub-parity levels in USD/CAD less than three years ago. Of course, the proximate cause of the weakness has been the renewed drop in oil prices, Canada’s most important export. The economic impact of the collapse in oil prices cannot be

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