USD/CAD seeks support of falling channel floor

4-hour chart

The hawkish rate hike has yielded a full cent drop. USD/CAD now trades at the lowest level since September 2016. Now we wait for Poloz comments.

The pair is seeking support of the falling channel floor (dotted lines). The daily RSI is oversold, hence watch out for a potential rebound from the channel floor. CAD could witness sell the fact trade… if Poloz remains non-committal about future rate hikes.

USDCAD H4 (07-12-2017 1939).png


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