USDCAD daily
USD/CAD is surging into Powell's testimony and tomorrow's Bank of Canada decision but the pair is now facing a series of resistance levels stretching up to the December high of 1.3705.
If that level gives way -- especially if it's with a hawkish Powell and dovish Macklem -- them it could be a green light for another test of 1.40.
At the same time, there's risk of disappointment in Powell and Macklem won't want to sound too dovish so there's also a risk of a reversal. In any case, the next 24 hours are likely to be pivotal.
