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We expect USDCAD to trend downwards for the next 2 hours.

We expect USDCAD to trend downwards for the next 2 hours. Based on these past Australia RBA Interest Rate Decision news events there is a 66.67% chance of this. We expect this to happen because the released value is = 0.75%. A price movement of 13 pips is expected.

Historical events that allowed us to draw this conclusion

03 Sep 04:30
02 Jul 04:30
04 Jun 04:30
02 Apr 03:30
05 Feb 03:30
04 Dec 03:30
06 Nov 03:30
04 Sep 04:30

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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We expect a 27 pip movement on SB for the next 48 hours.

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USD/CAD Target Level: 1.3260

USD/CAD Target Level: 1.3260

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