The USDCAD pair continues to mostly range as traders await the April 2nd deadline. The Loonie's faith remains tied to the US tariffs plan that is going to be unveiled on Wednesday. The Canadian Dollar could really see a massive appreciation in case we get good news. It's a game of patience now. Not having a position is having a position.
On the 1 hour chart below, we can see that the price recently bounced from the bottom of the range and continued upwards with the buyers increasing their bets on the break of the downward trendline. The bullish momentum is now defined by the upward trendline where the buyers will likely lean onto to keep pushing into the 1.4380 resistance.
The sellers, on the other hand, will want to see the price breaking lower to position for a drop back into the support or wait for the price to come into the resistance to have an even better risk to reward setup.
Today we have the Canadian GDP and the US PCE report. The data could bring some very short term volatility but the focus is on the April 2nd event. All the rest is just noise.
This article was written by Giuseppe Dellamotta at www.forexlive.com.Hence then, the article about usdcad s faith remains tied to the april 2nd tariffs plan was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( USDCAD's faith remains tied to the April 2nd tariffs plan )
Also on site :
- One person in critical condition following two-vehicle collision on SR-126 at Boosey Road
- Kentucky congressman announces death of longtime staffer, campaign manager
- Supermarket timings for Boxing Day and New Year revealed for Asda, Tesco, Sainsbury’s, Aldi, Lidl and more