USDCAD moves toward topside swing area after BOC rate decision

The USDCAD is moving higher after the Bank of Canada rate decision (and the stronger New Home Sales data).

The pair has moved up to test the low of the swing area between 1.3807 and 1.38614 on the daily chart (see video here). The move to the upside took out the October high near 1.3783. That level will now be close risk for buyers looking for more CAD weakness (USD strength).

This article was written by Greg Michalowski at Source