FOMC rate meeting is unlikely to deter USDCAD buyers
In October 2024, USDCAD triggered a complex inverse head-and-shoulders pattern forming for 747 days. This pattern suggests a potential move of 777 pips to the upside, with the pair still roughly 375 pips away from the 1.4672 target.
In the short term, if the price dips but holds above last Thursday's low of 1.4130, buyers will likely step in and push the price higher.
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In the short term, if the price dips but holds above last Thursday's low of 1.4130, buyers will likely step in and push the price higher.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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