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Oct 08 - 01:55 PM

USD/CAD - Slips Below Daily Tenkan, Eyes 50% Fib Support By 1.3207

By Paul Spirgel  —  Oct 08 - 11:40 AM
  • USD/CAD puts in new 17-day low at 1.2929, Thursday range 1.3264-1.3220

  • Pair lwr w/daily cloud, risk a bit bid; US COVID relief exp'd eventually

  • Aid expectation lifting glbl growth view, boosts oil (CLc1 +2.05%)

  • Next supt 1.3207, 50% of 1.2994-1.3481 Sept range, then Sept 10 1.3119 low

  • Res 1.3264 Thurs high, 1.3312 10-DMA, daily cloud top 1.3356

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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