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Nov 26 - 03:55 AM

USD/CAD - Reversal Backed By Techs, Oil And Massive Options

By Peter Stoneham  —  Nov 26 - 02:44 AM
  • COVID lashes out at the global economy once again

  • New, more transmissible, COVID variant in South Africa nL1N2SG0OQ

  • Unsettles commodity markets, oil takes a hit and CAD follows

  • USD/CAD set to test recent 1.2744 high and targets a last Fibo level

  • 76.4% retrace off the 1.2949-1.2289 drop comes at 1.2793

  • USD/CAD lifts sharply away from key support points

  • Daily cloud top at 1.2619 and 10DMA at 1.2633

  • Huge impending FX option strikes just below market: expire today

  • DTCC traded option data shows $4.75-billion between 1.2520-55





For more click on FXBUZ


USD/CAD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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