USD/CAD Update – 14/06/2017 (11:55am) – by Arjun Lakhanpal

June 14, 2017 by

USD/CAD Update – 14/06/2017 (11:55am): Poloz’s comments yesterday struck a similar tone to those of Wilkins the night before and are enough to keep USDCAD under pressure. Technically we are testing trend line support from the 2016 lows at 1.3215 although most look for a close below there to confirm the downtrend.  Ultimately I think the trend in USDCAD is lower but ahead of the FOMC and US data today it may make sense to lighten up and add on a close below trend line support or add on rallies back towards 1.3300 area. Resistance after that comes in after that at 1.3330 and 1.3380/3400 band.