Open trading account 
USD/CAD dropped sharply on the back of the Bank of Canada’s monetary policy announcement. The central bank left monetary policy unchanged, but the slightly more optimistic tone of the BoC statement drove the Canadian dollar sharply higher.
According to the BoC, the housing market has been stronger than anticipated and with the U.S. recovery back on track, they believe that the Canadian economy will return to capacity in the next 2 years. There was nothing in today’s statement that suggests that the central bank is considering lowering rates and in fact, the BoC appears to be fully comfortable with the current level of monetary policy.
From technical view USDCAD is in middle of supply & demand zones on Daily timeframe. I would be waiting for either 1.0987 for shorts or 1.0764 for longs, until then I would be on the sideline on this pair, as far as swing trading is concern.
According to the BoC, the housing market has been stronger than anticipated and with the U.S. recovery back on track, they believe that the Canadian economy will return to capacity in the next 2 years. There was nothing in today’s statement that suggests that the central bank is considering lowering rates and in fact, the BoC appears to be fully comfortable with the current level of monetary policy.
From technical view USDCAD is in middle of supply & demand zones on Daily timeframe. I would be waiting for either 1.0987 for shorts or 1.0764 for longs, until then I would be on the sideline on this pair, as far as swing trading is concern.
