Buyers in the USDCAD are making a play with a move to new highs in early North American trading. Last week the Bank of Canada cut rates by 25 basis points. The Federal Reserve starts there today meeting today and is expected to keep rates unchanged.
Stronger jobs on Friday helped to push the USDCAD higher. Yesterday, the price consolidated/corrected., Today the upside was restarted with the price moving into a swinger between 1.3784 and 1.3803. Getting above that level would have tried is looking toward the high price from April at 1.38454.
Find out the technicals that are in play by watching the above video.
