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18 Sep 2019
USD/CAD technical analysis: The Greenback rises against CAD after Fed cut
- The Federal Reserve Bank has cut rates by 25 bps as it was widely expected.
- The Greenback is having an initial boost across the board.
USD/CAD daily chart
USD/CAD is rising towards the 1.3307 level near the 200 SMA. If bulls can continue their ascent beyond this point, the next targets on the way up can be located at the 1.3383 and 1.3433 swing highs followed by the 1.3500 handle if the bulls gather enough steam. Support is seen at the 1.3250 level and the 1.3200 figure.
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Additional key levels