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CADUSD movement post-BoC on hold
Interesting to see $CADUSD at 0.71247 holding up today, even after BoC opted to keep rates steady. Was expecting a bit more of a dip, but perhaps the market had largely priced it in, or other factors are at play. My watchlist for CAD crosses is staying tight. Thinking about potential resistance around 0.7130-0.7150. A break above that could signal more strength, but for now, I'm watching for any retests of 0.7100. Still early to call a definitive direction post-announcement, especially with other global uncertainties.
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Yeah, I was also surprised it didn't dip more. It makes you wonder what else is influencing it, perhaps general USD weakness. Good call on keeping an eye on that resistance level.