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Aug 20 - 01:55 PM

USD/CAD - Probes Deeper Into Weekly Cloud, Bulls Eye LT Weekly Avgs By 1.3070

By Paul Spirgel  —  Aug 20 - 11:56 AM
  • USD/CAD clings to 0.23% gain at 1.2860, after fall from 2021 high 1.2949

  • Mounting COVID cases, glbl/China growth concerns & Fed taper view lifts USD

  • Risk rallies into weekend; stox & copper rise, oil off session lows

  • USD bulls in control on move deeper into weekly cloud (1.2809-1.3569)

  • Res abv 2021 high 1.2949 at 1.3068/72 200/100-WMA area

  • Bears need a move below 1.2686, the 50% Fib of 1.2423-1.2949's Jul-Aug rise

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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