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May 10 - 11:55 AM

USD/CAD - Bulls See Red Ahead Of 200-WMA By 1.3043

By Paul Spirgel  —  May 10 - 10:45 AM
  • USD/CAD slips from o/n, 2022 high 1.3037, -0.26% at 1.2980 into Europe cls

  • Risk rallies after recent drubbing; equities lead higher, UST 10-yr by 3%

  • CAD weakness likely to be short-lived; BoC Dec 22 rate seen 2.78%, Fed 2.67%

  • $CAD res 1.3037 Tues high, 1.3043 200-WMA, 1.3090 Nov 24 2020 high

  • Support 1.2963 Tues low, 1.2870 rising 10-DMA, 1.2861 50% of 1.2685-1.3037

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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