U.S. Dollar / Canadian Dollar

USDCAD: Temporary Pullback In View

We should be tracking USDCAD very closely today ahead of the BoC statement and rate decision. On the hourly chart we are looking at impulsive decline that can continue to around 1.2600 level, but would love to see a three wave retracement up into wave 4). Ideally any bounce will slow down at 1.2850-1.2920 area.

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