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
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Source:
Refinitiv IFR Research/Market Commentary