Some technical levels to eye
The BOC interest rate statement will be released at 10 AM ET, with no change expected. For Adam's view CLICK HERE.
Technically, the pair is trading above key MAs including:
- 100 day MA at the 1.2931 level.
- 100 hour MA at 1.2947
- 200 hour MA at 1.12960.
A move below these levels will be more bearish for the pair and signal more optimism from the BOC and Governor Poloz
On the topside, the 1.3070 area has been a ceiling area going back to October 5. A move above it would be more bullish and likely be breached on more worrisome overtures from Mr. Poloz and the BoC.
