By Paul Spirgel — Jan 13 - 12:03 PM
USD/CAD hovers near flat at 1.2704, Wednesday range 1.2745-1.2704
Rising oil, copper; CA yields at 9-mos highs provides interim lift to CAD
CAD gains may be fleeting as rising COVID cases may spur BoC rate cut
Close below 10-DMA by 1.2720 may open way for retest of 2021 lows
USD/CAD supt at today's low 1.2704, Jan 8 low 1.2659, 2021 low 1.2631
Res at 21-DMA by 1.2772, bears lose control above 1.2901, 50% Fib of 1.317-1.2631
CAD Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary