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Jun 23 - 01:55 PM

USD/CAD - Finds Resistance At 55-DMA After Fed Dials Back Hawkish Tones

By Paul Spirgel  —  Jun 23 - 11:35 AM
  • USD/CAD slips 0.14% to 1.2290; Wednesday range 1.2327-1.2253

  • Pair slips after Powell, Williams dovish lean weighs on USD broadly

  • BoC likely to move first on rates, after April taper move

  • USD/CAD finds supt by 55-DMA (1.2252), then daily cloud base 1.2221

  • Break above daily cloud top by 1.2350 puts Jun 21 trend high 1.2485 in view

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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