Earlier this morning the BOC hiked interest rates to 1% (from 0.75%), even after this important announcement the USDCAD still is in a bearish market condition:

The USDCAD is likely to continue its way down until it finds the next LT support level which is at 1.0160.

Only short opportunities are in play in the USDCAD.

Trade Safe!

Raul Lopez
Forex Training