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Jul 22 - 07:55 AM

USD/CAD - Has A Twist In Its Sights

By Richard Pace  —  Jul 22 - 05:42 AM
  • USD/CAD reversed all Fri-Mon's gains, touching 1.2562 Wed, from 1.2806 Mon

  • Risk recovery lifted oil and hurt USD to fuel the sharp descent

  • Option implied volatility and CAD put premiums have also retraced sharply

  • Typical price action amid risk appetite, falling volatility/upside risk

  • 200-dma 1.2617 reverts to resistance, CAD also below 10-dma 1.2568 for now

  • Daily cloud twists often attract, so don't rule out a return toward 1.2300

  • Cloud twist 1.2307-30 on August 6

For more click on FXBUZ


CAD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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