The USD/CAD currency pair will fall in the medium-long term, according to our technical and fundamental analysis. The RSI oscillator is still above 50 on the weekly chart. The price has already hit EMA 20, EMA 50, and EMA 200 on the weekly chart. A potential medium-term target is 1.2720, where is Fibo 0.38 on the daily chart. The dollar may fall in the next month as markets expect the Fed to cut interest rate.
The most important data of this week:
BOC rate decision (1.75% expected); (1.75% previous)
Fed's Powell Testifies Before House Financial Services Panel
US CPI MoM (0.00% expected); (0.1% previous)
YoY (1.6% expected); (1.8% previous)
Fed's Powell Testifies Before Senate Banking Committee