USD/CAD Outlook (30th January 2019)

• U.S. Interest Rates
  

Price Movement
Since yesterday, USD/CAD has been moving within a 40pips range.

Trend
USD/CAD is moving across a wide range of 200pips.

Macro Background
With the recent U.S. government shutdown, the U.S. Federal Funds Rate is expected to maintain at 2.50%. If it is released at a different figure, expect high volatility and price movements. Nonetheless, many will be looking out for hints in the FOMC statement on when the next rate hike may be and how many hikes will be made this year.

Important Issue
None.

Technical
USD/CAD is currently moving between the resistance level of 1.33570 and the support level of 1.32108.

Price Levels
Current Price: 1.32473
Next Resistance: 1.33570
Next Support: 1.32108