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Dec 09 - 08:55 AM

USD/CAD - Loonie Bulls Thwarted By Familiar Impediments

By Christopher Romano  —  Dec 09 - 07:30 AM
  • USD/CAD fell & briefly pierced the 55-DMA & neared the Dec. 6 low

  • 1.35695 hit, downside momentum fade however and the pair turned positive

  • Rally ensued despite higher oil CLv1 & equities ESv1, USD/CNH drop

  • USD/CAD buoyed even as US rates EDM3 trade lower on the session

  • Pair trades +0.18% in early NY and technicals lean bullish

  • Consolidation of recent gains is ongoing, daily & monthly RSIs rising

  • USD/CAD bears need break of support near 1.3560, 10-DMA to take some control

  • For more click on FXBUZ







Source:
Refinitiv IFR Research/Market Commentary

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