USDCAD Trade Setup

USDCAD has again failed to close above 1.3350 level on the daily and yesterday posted a potential rejection candle.

NOTE: We have BOC Interest rate decision today so this could fuel this trade or make it totally invalid. i.e could be the pullback for price to move higher.

Will monitor price action closer to the Interest rate decision.

We can see clear recent support on the 4hr at 1.3312 area, I’ve set alerts to see if this level can break down to signal further downside from the higher timeframes.

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