"The Fed releases minutes of its April meeting on Wednesday, and many investors anticipate it will add to expectations that the Fed is firmly on course to another rate hike in June."
— Growth Aces (based on investing.com)
Pair's outlook
By the middle of Wednesday's trading session the market expectations for the FOMC Meeting Minutes could also be seen on the USD/CAD currency exchange rate. The pair was squeezed in between the resistance of the monthly PP, which is located at the 1.3527 level, and the support of two minor levels of significance. The two minor support levels were the lower Bollinger band and the 55-day SMA. Both of these levels of significance were located at the 1.3485 level. The direction of the pair by the end of the day will be set by the Federal Reserve, and during that time the pair will likely ignore the technical levels.
Traders' sentiment
SWFX traders have not changed their opinion, as 65% of open positions are lone, and 56% of trader set up orders are to sell the Buck.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -30% | -30% | -32% | |
| Orders | -12% | -10% | -32% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Neutral | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Buy | Neutral | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Neutral | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↗ | |