Home » Charts » 05/27/15: USDCAD Poised Higher as BOC Holds Rates

05/27/15: USDCAD Poised Higher as BOC Holds Rates

The USDCAD was firm on Wednesday, as the Bank of Canada commented on “persistent slack” in the economy while holding interest rates at 0.75 percent for a third successive time.

The USDCAD climbed 0.1 percent to 1.2449, easing off daily highs of 1.2484. The pair looks poised to test the psychological 1.2500 region, a level not seen since mid-April. Above 1.2500, the pair is likely to test the April 14 closing rate of 1.2592. On the downside, immediate support is located at the psychological 1.2300 level.

 

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