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Oct 28 - 01:55 PM

USD/CAD - Rallies To 3-Week High, As COVID Angst Hinders Global Recovery

By Paul Spirgel  —  Oct 28 - 11:40 AM
  • USD/CAD +0.95% at 1.3310, hits 3-wk high by 1.3335, Wed range 1.3335-1.3180

  • Oil -5.3%, copper -1.55%; COVID angst, lockdowns threaten glbl recovery

  • Pair eyes 21/100/55-WMA resistance by 1.3345/1.3377/1.3439

  • Above WMA's a series of highs on way to June high 1.3717 attract

  • Bulls in control above 1.3251, 50% Fib of 1.342-1.3081 dip

  • Bears need a dip below 10-DMA support by 1.3185 to regain momentum for run at Oct low 1.3081

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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