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Aug 02 - 01:55 PM

USD/CAD - Flirts With Cloud Top, Hovers Within Cloud By 10-DMA At 1.2856

By Paul Spirgel  —  Aug 02 - 11:55 AM
  • USD/CAD hovers near flat into NY afternoon, Tuesday range 1.2887-1.2838

  • Pair offered in NorAm, slipped from 1.2872 NorAm open

  • CAD avoids risk-off selling in other pairs amid rising Taiwan-related angst

  • $CAD rise above daily cloud (1.2874-1.2769) runs into resistance

  • Above the cloud Res at Jul 27 high 1.2912 and 30-DMA 1.2828

  • Support at Tuesday low 1.2838, 100-DMA at 1,2778

  • Parallel US-CA rate paths likely to keep pair anchored by recent lvls

Source:
Refinitiv IFR Research/Market Commentary

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