By Paul Spirgel — Feb 02 - 11:35 AM
USD/CAD rises into Europe cls, +0.16% at 1.3314; Thurs range 1.3345-1.3264
CAD soft amid falling oil, broad USD rally after less-hawkish BoE, ECB hikes
Major c.banks tout rising disinflation while pledging inflation vigilance
$CAD bounces off o/n, NorAm lows near 1.3270; supt 1.3259 lwr 21-d Bolli
Double bottom Wed-Thurs lows 1.3267-64 holding, then 200-DMA 1.3218
Resistance 10-DMA by 1.3342, Thurs high 1.3345, 21-DMA 1.3391
Rise abv 1.3474, the 50% Fib of 1.3684-1.3264 shifts momentum to USD bulls
Source:
Refinitiv IFR Research/Market Commentary