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Nov 02 - 01:55 PM

USD/CAD - Eyes Daily Cloud Base Support By 1.3239 As Risk Rallies Pre-Elex

By Paul Spirgel  —  Nov 02 - 12:05 PM
  • USD/CAD slips 0.5% to 1.3254; Monday range 1.3370-1.3244

  • Risk firm ahead of US elex, Biden leads in polls; seen glbl growth positive

  • CAD bulls eye daily cloud base support just below Mon low at 1.3239

  • Below the cloud 10-DMA support 1.3216 in focus, then 1.3211's Oct 23 low

  • Bulls need to rally above upper 21-d Bolli res by 1.3349, Oct 29's 1.3390

  • Break higher eyes Sep high's by 1.3420, then 200-DMA by 1.3546

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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