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May 20 - 01:55 PM

USD/CAD - Eyes Trend Low Ahead Of 1.20, After Macklem Inflation Comments

By Paul Spirgel  —  May 20 - 12:04 PM
  • USD/CAD probing new session low by 1.2051, Thursday's range 1.2144-1.2051

  • Macklem says may be risk inflation more persistent than exp'd nT5N29R016

  • CAD rallied after BoC taper, loonie +2% MTD, 8% over 6-months

  • USD bears target 1.2014 May 18 low, then 1.1952's lower 21-d Bolli

  • Resistance at Wed/Thurs double top in 1.2140's, then 21-DMA at 1.2225

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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