- The USD / CAD remains under selling pressure near the May lows.
- The level to beat for bears is 1.3880 support.
- The FOMC minutes will be published at 6:00 p.m. GMT.
Four-hour USD / CAD chart
The USD / CAD is trading below the major SMAs on the four-hour chart, suggesting a bearish bias in the medium term. The spot is trading near the May lows as the bears keep control. A break below the 1.3880 support can lead to a new weakness towards the 1.3820 and 1.3760 levels. Upward retracements should find resistance near 1.3980, 1.4040 and 1.4080 in the medium term. Meanwhile, the FOMC minutes will be published at 6:00 p.m. GMT.
Resistance: 1.3980, 1.4040, 1.4080
Support: 1.3880, 1.1.3820, 1.3760