Ransquawk

The USDCAD currency pair quotations during the Wednesday’s session slid to the trend line running from the minima of the current month. This movement appeared following the decision of the Bank of Canada on monetary policy. As you can see in the 4-hour chart below, the course respected the trend line as the support in force and returned above the resistance at 1.3070. Quotations are also growing during today’s session, where buyers managed to establish a new high. Successfully overcoming the resistance at 1.3120 will open the way for further growth, where the nearest goal may be the diagonal line extended from the 10th of October. On the other hand, in the case of slides, horizontal support can be found at 1.3070, as well as on the upward trend line.

USDCAD Daily 26.10.18

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