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USD/CAD falls to 1.0372/73 ahead of BoC

FXstreet.com (Barcelona) - The USD/CAD is trading quite statically ahead of the BoC during US trading Wednesday, preferring to oscillate marginally in light of this marquee event for the pair.

Later today at 14:00 GMT, the BoC is set to unveil its interest rate decision, along with a respective statement, which will certainly create waves for the pair.

“The USD/CAD has slipped quite abruptly off the overnight high but the broader trend remains constructive and we look for intraday losses to remain limited—1.0340/60 as initial support then 1.0310. We continue to view USD dips as a buying opportunity.” notes the TD Securities Team.

In these moments, the USD/CAD is now operating at 1.0372/73, incurring a loss of -0.27% Wednesday. Mataf.net analysts determine resistive measures for the USD/CAD at 1.0443, onto 1.0476, and ultimately 1.0535. On the decline, a break below the 1.0351 handle will initiate support at 1.0292 and 1.0259.

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