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Jun 24 - 01:55 PM

USD/CAD - Eyes Daily Cloud Top Resistance By 1.2349, On Upbeat Fed Tones

By Paul Spirgel  —  Jun 24 - 11:57 AM
  • USD/CAD firm into Europe close, +0.2% at 1.2330; Thurs range 1.2341-1.2283

  • US rates tick up slightly, mixed commodities weigh on CAD

  • Despite transitory inflation pickup, Fed members see growth in near-term

  • USD/CAD eyes daily cloud top res 1.2349, then upper 21d Bolli (1.2429)

  • Bears run into supt at rising 10-DMA (1.2291), 1.2246 50% of 1.2007-1.2485

  • Risk skewed to downside as BoC seen removing accommodation ahead of Fed

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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