USDCAD neutral

Flat of the USDCAD before Nonfarm

23 August 2022 92
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The pair is once again near strong resistance at 1.305.

The Stochastic lines are about to cross in the overbought zone.

If today they still intersect, and USDCAD closes below 1.3026, then we expect a decline to 1.275. Otherwise, the growth to 1.33 is possible.

 

The statistics of the countries are approximately equal, and the nearest impetus to the US dollar can be given by employment statistics and, of course, Nonfarm in early September. Until that time, the 1.275-1.305 flat is likely to continue.


It is a bit unfortunate that in September, the update of US and Canadian employment statistics does not coincide in time, otherwise, it would be possible to catch a cool signal.


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