The meeting of the Bank of Canada will be held today. The regulator will make a decision about the further monetary policy. The latest statistics from Canada was ambiguous. Experts believe that the Central Bank will keep the interest rate at the previous level (0.50%). I’ve identified the following key levels:
Support - 1.3450, 1.3300
Resistance - 1.3585, 1.3750
I’ll open positions, if the price fixes above/below these levels.
I’ll buy USD/CAD, if the quotes fix above the 1.3585 mark. Potential movement – to 1.3750.
I’ll sell, if the price overcomes the 1.3450 support level. Potential movement – to 1.3300.
This idea has a medium-term character.