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May 19 - 01:55 PM

USD/CAD - Boosted As Haven Flows Gain Momentum After Crypto Craters

By Paul Spirgel  —  May 19 - 11:57 AM
  • USD/CAD holds near session high at 1.2105; Wednesday's range 1.2123-1.2053

  • Risk off sends oil, copper lower amid crypto crash; CAD longs take profit

  • CAD +7+% over last 6-months ripe for profit-taking off Tues low above 1.20

  • Res at 10-DMA 1.2112 bruised, more firm res 1.2183, 50% Fib of 1.2352-1.2014

  • Supt 1.2053 Wed low, 1.2014 Tues low, big-fig 1.20 and lwr 21-d Bolli 1.1957

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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