The USD/CAD pair seems comfortable above the psychological resistance of 1.3500 in the European session on Monday.
USD/CAD exhibits strength above 1.3500 ahead of an eventful week. The Fed is widely anticipated to hold interest rates unchanged in the range of 5.25%-5.50%. The Canadian Dollar faces pressure ahead of consumer inflation data for February. The Loonie asset clings to gains amid uncertainty ahead of the interest rate decision by the Federal Reserve , which will be announced on Wednesday. While the Fed is certain to keep interest rates unchanged in the range of 5.25%-5.
Earlier, the Loonie asset rebounded from the upward-sloping border of the Ascending Triangle pattern formed on a daily timeframe, plotted from the December 27 low at 1.3177. The horizontal resistance of the aforementioned pattern is placed from December 7 high at 1.3620. The 50-day Exponential Moving Average near 1.3500 continues to support the US Dollar bulls. The 14-period Relative Strength Index oscillates inside the 40.00-60.00 region, which indicates indecisiveness among investors.
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