USD/CAD technical analysis: Market goes ballistic ahead of the BoC press conference

USD/CAD is having a boost trading above the 1.3100 handle.
Bank of Canada (BoC) press conference - Oct. 30 - Poloz speech live stream.
BoC left its policy rate unchanged at 1.75% as expected.

USD/CAD four-hour chart

USD/CAD is spiking to the upside, challenging the 100 SMA. The market regained bullish momentum and the level to beat for bulls is the 1.3170 level. A break above this level can lead to 1.3196 and 1.3230, according to the Technical Confluences Indicator.

Support is seen at the 1.3141 and 1.3087 price levels.

Additional key levels

Oct 30, 2019

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