IC Markets Global Trade USD/CAD on the Canadian CPI Inflation Data
What does this mean for traders?
Traders are closely monitoring the Canadian CPI release, as an upside surprise could strengthen the Canadian dollar, while a weaker-than-expected reading may push USD/CAD higher. Key technical levels to watch include:
Resistance 2: 1.3870 – Trendline Resistance
Resistance 1: 1.3798 – Overnight High
Support 1: 1.3661 – 200 Day Moving Average
Support 2: 1.3537 – Annual Low and Trendline Support
These levels can act as important decision points for entries and exits as volatility increases around the data release.
https://secure.icmarkets.com/Account/LogOn
Traders are closely monitoring the Canadian CPI release, as an upside surprise could strengthen the Canadian dollar, while a weaker-than-expected reading may push USD/CAD higher. Key technical levels to watch include:
Resistance 2: 1.3870 – Trendline Resistance
Resistance 1: 1.3798 – Overnight High
Support 1: 1.3661 – 200 Day Moving Average
Support 2: 1.3537 – Annual Low and Trendline Support
These levels can act as important decision points for entries and exits as volatility increases around the data release.
https://secure.icmarkets.com/Account/LogOn
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What does this mean for traders?
Traders are closely monitoring the Canadian CPI release, as an upside surprise could strengthen the Canadian dollar, while a weaker-than-expected reading may push USD/CAD higher. Key technical levels to watch include:
Resistance 2: 1.3870 – Trendline Resistance
Resistance 1: 1.3798 – Overnight High
Support 1: 1.3661 – 200 Day Moving Average
Support 2: 1.3537 – Annual Low and Trendline Support
These levels can act as important decision points for entries and exits as volatility increases around the data release.
https://secure.icmarkets.com/Account/LogOn📱 Scan this QR to open paste
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