USD/CAD reaches the Bottom level, Wait for Reversal (or) Breakout ?

USD/CAD Analysis :

USD/CAD is trading between the ranges for a long time.

Since from the starting of May month, USD/CAD starts to fall down from the price level 1.37

Yesterday Bank of Canada (BOC) announces the interest rate as 0.50% This makes the CAD to become more stronger, because it still maintaining the same interest rate from July 2015 to till now.

The same interest rate maintains for a long time even under critical situations.

Now, the market reaches the bottom level 1.34 and trying to bounce back.

Let’s wait for the confirmation of Reversal (or) Breakout to make good profits on USD/CAD.

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Forexgdp Team.

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