Also expects rate rises to begin in the middle quarters of 2022
The Bank of Canada policy announcement was more hawkish as they announced they would stop the bond buying and expects a rate rises to begin in the middle quarters of 2022 (vs the second half of 2022).
The USDCAD push back below its 100 and 200 hour moving averages at 1.23697 and 1.23618. Those levels will now be close risk levels for shorts (higher CAD). Stay below is more bearish.
A swing area between 1.23097 and 1.23205 is the next downside target ahead of the low for October at 1.2287.