According to the analysts at BBH, the Canadian dollar's technical tone is more mixed and the US dollar could rise toward CAD1.3440-CAD1.3480 within a consolidative phase.
“The MACDs and Slow Stochastics have turned against the US dollar but that seems to be the echo of the sharp drop spurred by the FOMC. The RSI is firmer which reflects the US dollar's firmer tone in the past two sessions. The US dollar has risen against the Canadian dollar in all but four times in the past fifteen sessions. Support for the greenback is seen in the CAD1.3280-CAD1.3300 area.”
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