FXstreet.com (Barcelona) - The USD is stronger slightly against the Canadian counterpart after the US opening bell. The USD/CAD has risen around 90 pips from the 1.2672 to the 1.2763, intraday high, in the early American morning.
The USD/CAD is rising from the 1.2670, uptrend support line in the daily chart and after a first test to 1.2760 resistance, the pair has fallen to 1.2720 support, Currently, the pair is trading around the 1.2740/55 in a new attempt to break the 1.2670 resistance.
Traders are trading the USD/CAD focusing in the immediate term to take positions ahead of tomorrow's Fed announcement.
According to Mataf.net analyst team, the USD/CAD is in a consolidation movement: USD/CAD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,2600 / 1,2770 range.