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Jul 21 - 01:55 PM

USD/CAD - Slips Near 10-DMA Support By 1.2564 As COVID Angst Recedes

By Paul Spirgel  —  Jul 21 - 11:51 AM
  • USD/CAD -0.95% to 1.2556, as haven flows unwind; Wed range 1.2731-1.2549

  • Risk rallies, UST yields up, oil +4% CLc1, copper +0.2%, BTC +6.6%

  • COVID anxieties abate slightly, focus shift back to inflation, glbl growth

  • Move below 10-DMA at 1.2564 puts 50% Fib of 1.2253-1.2807 at 1.2530 in focus

  • Below 50% Fib 21-DMa at 1.2463 and daily cloud top at 1.2331 targeted

  • Res at 200-DMA by 1.2620, then upper 21-d Bolli at 1.2711

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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