The USD/CAD pair is trading at 1.2454; the instrument is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test the downside border of the cloud at 1.2475 and then continue moving downwards to reach 1.2305.
However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2535. In this case, the pair may continue growing towards 1.2650. In the evening, the Bank of Canada is expected to publish the Interest Rate Decision, which may significantly influence the USD/CAD pair movement.
Orgin: RoboForex
