USDCAD is testing a significant support level ahead of Wednesday’s federal funds rate and press conference. We know that the Federal Open Market Committee (FOMC) rate decision and subsequent press conference trigger volatility for currencies. So USDCAD testing its July 2021 trend line feels significant ahead of such a market-moving event. I mentioned this trend line as one to watch on January 13th, and the 1.3300 area remains key support for USDCAD this week. The trend line support is intact as long as USDCAD trades above 1.3300 on a daily closing basis. However, bulls need to secure a daily close back above 1.3370 ... (full story)