The pace of greenback is still increasing significantly since Trump election. The US dollar continues to soar all its rivals as US dollar index peeked to highest today clocking 101.39. USD/CAD extended the uptrend mood after positive US data released yesterday, and especially after Fed Chair Yellen noted in her testimony that an increase in interest rates could well become appropriate relatively soon.
Key Quote:
The clear implication for monetary policy being that the case for a rate hike “continued to strengthen”, with action to be taken “relatively soon”. Barring a material adverse shock, that means December.
USD/CAD rallied today from 1.3503 low, scored a 1.3564 high, currently trading at 1.3536. The US dollar is doing everything except for giving up the thrown, still dominating-relentless . The Canadian dollar awaits today local core CPI which will either give the pair a chance to breath, or the pair will extend is bullish momentum.
Trend: Bullish
Daily Pp: 1.3483
Resistance level: R1 1.3592 , R2 1.3652, R3 1.3723
Support level: S1 1.3464, S2 1.3405, S3 1.3359
Remark: USD/CAD is bullish. under the influence or control of it's south neighbor. Today Canadian dollar awaits local data (CPI) scheduled to be released at 1:30 PM GMT.
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