1.3570/1.3530 is an important support zone
We expect rates to remain at 5%. The guidance of the BoC statement is likely to stay hawkish.
Once a break above the high formed earlier this month at 1.3780 materializes, the pair is expected to extend its uptrend towards 1.3860 and perhaps even towards the 2022 high of 1.3980.
Recent trough near 1.3570/1.3530 is an important support zone.
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