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May 25 - 01:55 PM

USD/CAD - Early Rise Fades After US Durables Miss, Longs Pared Pre-Fed Minutes

By Paul Spirgel  —  May 25 - 11:45 AM
  • USD/CAD Off session high1.2885, dips 0.1% into Europe close

  • Soft copper (-0.75%), oil (-0.3%) weighs on CAD

  • Early USD rise pared after US durables miss; marts await Fed minutes

  • $CAD hit res just abv 10-DMA (1.2859), ahead of daily Tenkan (1.2907)

  • Support at Wed low 1.2812, May 24 low 1.2865

  • Close below 1.2768, 50% of 1.2459-1.3077 shifts momentum to bears

  • More significant support by 55-DMA, lwr 21-d Bolli, 100-DMA near 1.2700

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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