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Jul 30 - 06:55 AM

USD/CAD - Eyes A Twist As Stops Lowered And GDP Data Looms

By Richard Pace  —  Jul 30 - 04:42 AM
  • USD/CAD by Thurs 1.2432 low after break/close below key Fibo at 1.2501

  • 1.2501 was 38.2% retrace of recent 1.2007-1.2806 rally, 50% is 1.2406

  • 1.2406 break/close opens 100-dma 1.2368, then cloud twist 5 Aug 1.2307-33

  • Talk of stops lowered to Thurs 1.2530 peak, reinforced by 21-dma 1.2519

  • Strong Cnd GDP (-0.3% exp vs -0.3% prior) should help CAD bulls

  • Month end flows may cloud picture, said to be USD negative

For more click on FXBUZ


CAD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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