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USDCAD Weekly Analysis 11th Nov

USDCAD Weekly Analysis 11th Nov

TECHNICAL ANALYSIS

Price has reached daily 200EMA plus resistance level and has began to show signs of weakness. I will be looking for a continuation of weakness in the USD/CAD targeting 1.31200

FUNDAMENTAL ANALYSIS

FED Chair Powell speaking several times throughout the week. Will be expecting more insight on economic outlook, stimulus and hints of future interest rates. We also have BoC Gov Poloz speaking on Friday and considering the fact Canada still remains unchanged in terms of interest rates, it will be interesting to see what Poloz’s thoughts are.

 

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