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Jul 27 - 01:55 PM

USD/CAD - Slips Toward Lower Bound Of Recent Range By 1.2530

By Paul Spirgel  —  Jul 27 - 11:39 AM
  • USD/CAD off early NorAm high slips to 1.2565 from 1.2594 NorAm high

  • USD offered into Europe close, likely position pruning pre-Fed Wednesday

  • Fed taper likely on hold while inflation remains transitory, COVID resurges

  • Commods copper and oil basically flat as China risk peels off

  • USD/CAD supt at 1.2540 Tues low, more firm supt 1.2530 50% of 1.2253-1.2807

  • Res at 10-DMA by 1.2595, 200-DMA at 1.2608, then 1.2717 upper 21-d Bolli

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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