The Canadian dollar slipped after the BoC signalled a pause in rate increases. On the daily chart, the pair is looking to hold above 1.3320 as a triangle consolidation pattern seems to be taking shape between 1.3230 and 1.3700. After hitting resistance at the former support at 1.3520 the short-term price action reversed and tested 1.3320 again. Its breach would send the greenback to the critical floor at 1.3230. On the upside, 1.3500 is the first hurdle and 1.3660 may cap any further advance in the short-term.
