The Canadian Dollar gained versus the Dollar after stronger than expected GDP results showed Canada's economy grew in the fastest pace in a decade during the 1st quarter. GDP came out 0.6% versus 0.5% expected. Overall, USD/CAD traded with a low of 1.0413 and a high of 1.0546. USD/CAD broke below its 50 days moving average and is expected to resume its major downtrend. Today, BOC is expected to announce the interest rate will rise from 0.25% to 0.5% and is expected to bring great volatility.

USD/CAD - Last: 1.0435

Resistance

1.0475

1.0560

1.0610

Support

1.0400

1.0340

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