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Sep 01 - 01:55 PM

USD/CAD - Bears Fail For 3Rd Straight Session At Daily Cloud Top, USD Rallies

By Paul Spirgel  —  Sep 01 - 11:45 AM
  • USD/CAD off early session lows, +0.05% at 1.2620; Wed range 1.2638-1.2581

  • USD shrugs off US ADP miss, trades lwr with oil -1%, copper -2.2%

  • USD bears find no joy in 3 successive test of cloud top supt by 1.2595

  • 55-DMA set to rise abv falling 200-DMA, golden cross eyes pot'l USD rise

  • Sub-55DMA 1.2521 USD bears eye Jul 30's 1.2423 low, daily cloud base 1.2407

  • Bulls need to regain 10DMA at 1.2658 to slow bearish tide, gain control abv 50% Fib at 1.2760

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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