Canadian Overnight Rate Decision (24th May)
While I anticipate a weaker USD to continue, this could bring the USD/CAD lower
This is likely to happen, especially if price is able to break current support (1.35)
Furthermore, the Canadian decision on Wednesday is likely to keep rates on hold.
The decision to hold rates and to the tone of the rate statement, is likely to bring USD/CAD lower, possibly breaking through several support levels.
However, it'll be prudent to wait for the decision and to read the statement before making a trading decision.
This is likely to happen, especially if price is able to break current support (1.35)
Furthermore, the Canadian decision on Wednesday is likely to keep rates on hold.
The decision to hold rates and to the tone of the rate statement, is likely to bring USD/CAD lower, possibly breaking through several support levels.
However, it'll be prudent to wait for the decision and to read the statement before making a trading decision.
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