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Sep 21 - 05:55 PM

USD/CAD - August Peak In Sight, But Maybe Out Of Reach

By Randolph Donney  —  Sep 21 - 04:19 PM
  • USD/CAD consolidating Monday's sprint toward August's 1.2949 peak

  • Doji candle Tuesday typical marker of indecision after big moves

  • 1.27435 low was by the daily tenkan, but now closer to 1.28465 high

  • Pattern similar to other currencies ahead of Wed's Fed

  • A close below the tenkan and nearby 10-DMA could put cloud below in play

  • CAD fairly calm after Canadian election yields little change nL1N2QN182

  • Weeklies show 38.2% of pandemic plunge & 100-WMA loom at 1.3024/46

  • Prices also getting closer to pre-pandemic levels, more neutral

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Source:
Refinitiv IFR Research/Market Commentary

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