04.12.2019
The pair is consolidating above 1.3280 in anticipation of the BoC monetary policy decision, as well as due to the uncertain behavior of crude oil prices. If the regulator leaves rates at the same level and does not change them in the near future, this may support the Canadian currency.
The price is below the middle Bollinger band, at SMA 5, but below SMA 14. RSI is located below the level of 50% and moves horizontally. Stoch indicate a weakening of the downward dynamics.
Trading recommendations:
In the wake of positive news for the Canadian dollar, the pair may break the level of 1.3280 and surge to 1.3250.
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