The USDCAD technical pattern is making higher highs and higher lows which support the bullish view. The USDCAD sell offs are quickly bought and we might see another attempt to challenge the big psychological number 1.3500. The stochastic indicator is also moving higher which encourages us to believe we can even see a false breakout above the March high 1.3533 before any real correction to be seen. We also have a busy Canadian economic calendar. Wednesday we have the BOC interest rate decision which is expected to hold monetary policy on hold and keep rates at 0.5%. The rate decision is followed by BOC press conference which will give traders more clues into what to expect on future rate decisions. On Friday we have the Good Friday holiday and all big financial centers will be close and the market liquidity will be subdued. Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast - 10th to 14th April 2017