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Aug 23 - 06:55 AM

USD/CAD - Plunge Reveals Dollar's Fragile State

By Jeremy Boulton  —  Aug 23 - 06:07 AM
  • USD/CAD dives from Friday's 1.2949 peak to 1.2734 today

  • Friday proved a great point to hedge nL1N2PR0LB

  • USD/CAD has reached target for minimum correction Jul-Aug rise

  • 38.2% Jul-Aug rise is 1.2747 and 100-HMA at 1.2730 may draw buyers

  • Last Thursday's low 1.2649, 200-HMA is 1.2631

  • Dollar is fall guy of flamboyant U.S. spending nL1N2PU0GB

  • SNB intervention may have influenced recent FX moves nL1N2PU0DC

  • SNB buys CAD when rebalancing after intervention


USDCAD Click here

Source:
Refinitiv IFR Research/Market Commentary

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