USDJPY
EURUSD
USDCAD
USD/CAD Price Forecast: Sees more downside below 1.3640
Key Takeaways (30s Read)
USD/CAD shows potential for further downside below 1.3640.
USD/CAD is trading almost flat around 1.3685 during the late Asian session. The pair is consolidating ahead of the Federal Open Market Committee (FOMC) minutes from the December meeting, expected to provide insights into U.S. monetary policy. A break below the key level of 1.3640 could suggest further downside potential in the currency pair.
AI Analyst
AI Opinion
"The current situation of USD/CAD shows that buyers and sellers are in equilibrium as the market awaits the important FOMC minutes. A break below the 1.3640 support line would strengthen the bearish pressure, and traders may consider increasing their selling positions once this level is breached. The market is sensitive to developments in U.S. monetary policy, and information from the upcoming FOMC minutes could significantly impact trader sentiment. It is crucial to maintain attentive risk management and stay aware of market trends."
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