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Dec 16 - 01:55 PM

USD/CAD - Rise Off 2020 Low By 1.2689 Gains Momentum Ahead Of Fed

By Paul Spirgel  —  Dec 16 - 12:25 PM
  • USD/CAD holds at 1.2758, just below session high 1.2765 ahead of Fed

  • Pair shrugs off oil rebound, succumbs to profit-taking after Tues 2020 low

  • 10-DMA res at 1.2782 caps, above eyes 21-DMA by 1.2906

  • Bears in control below 1.3040 the 50% Fib of 1.3390-1.2689 (Nov/Dec range)

  • Falling cloud, DMA's hint at further USD weakness, amid COVID recovery

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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