Canadian dollar (CAD)

Canada's dollar fell from a three year high against the greenback after the Bank of Canada reiterated that a strong currency poses challenges to the nation's exporters and thus, the BoC held its target lending rate at 1 percent. The interest rate came out at 1%, which is unchanged from before. Holding below the support level of 0.9770 might extend the decline in the pair. Overall, USD/CAD traded with a low of 0.9682 and with a high of 0.9754. Today, the Interest Rate Decision is expected unchanged at 1%. No major economic data is expected today.

USD/CAD - Last: 0.9755

Resistance

0.9786

0.9844

0.9925

Support

0.9700

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