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Nov 11 - 01:55 PM

USD/CAD - Higher As Risk Rallies, Rising Oil Tempers USD Gain

By Paul Spirgel  —  Nov 11 - 11:40 AM
  • USD/CAD trades 1.3064 into London close, a touch below session high 1.3076

  • USD broadly bid, despite risk rise; CAD traders shrug off oil 2.2%

  • USD/CAD bears bruised remain in control below 1.3159 50% Fib of 1.339-1.2928

  • Above 50% Fib res at daily cloud base 1.3227, then 100-DMA at 1.3292

  • Support at 1.3010 Wed low, 1.2981, the lower 21-d Bolli & 1.2928 Nov 9's 2020 low

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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