By Justin Mcqueen — Apr 14 - 06:55 AM
USD/CAD selling persists as USD index approaches YTD low (100.80)
Daily RSI now lowest since Oct 2021. Warning against chasing USD/CAD lower
Plethora of support: 1.3263 (YTD low), 1.3237 (55WMA), 1.3226 (Nov 18 low)
Topside hurdles situated 1.3400 (200DMA) and 1.3450 (psychological)
Highly exp. weak U.S. retail sales raises risk of unorthodox reaction
USD may see short-lived move lower on data unless there is a big miss
Source:
Refinitiv IFR Research/Market Commentary