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Feb 02 - 01:55 PM

USD/CAD - Holds By 1.3260 Recent Double-Bottom, Lower 21-D Bolli Support Area

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

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