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Apr 24 - 01:55 PM

USD/CAD - Runs Into Resistance By Daily Cloud Top At 1.3562

By Paul Spirgel  —  Apr 24 - 11:45 AM
  • $CAD steady into Europe close +0.04% at 1.3542; Monday range 1.3568-1.3524

  • Rate expectations remain key driver; Fed +25bp May 3, BoC on hold IRPR

  • Rising oil tempers USD gain vs CAD; US yields a touch softer than CA yields

  • Pair flirts w/key 50% Fib at 1.3553, daily cloud base 1.3562

  • A close above 1.3553 50% of 1.3804-1.3303 shifts control to USD bulls

  • Support at Monday low 1.3524, 21-DMA at 1.3482, 10-DMA 1.3440

Source:
Refinitiv IFR Research/Market Commentary

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