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Dec 23 - 01:55 PM

USD/CAD - Bears Take Out 10-DMA Support, Eye Key Fib Support By 1.2785

By Paul Spirgel  —  Dec 23 - 11:40 AM
  • USD/CAD slips a further 0.22% to 1.2812; Thursday range 1.2853-1.2808

  • Pair backs further away from Dec 20 high at 1.2963 as Omicron fears ebb

  • Reduced virus angst lifts global recovery outlook, commodities rise

  • Break below 10-DMA at 1.2841 bearish, next supt 1.2785 50% of 1.2607-1.2963

  • Below 1.2785 bears eye 10-WMA at 1.2648, Dec low by 1.2607

  • Res Thurs high 1.2853, upper 21-d Bolli at 1.2955

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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