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Apr 11 - 05:55 AM

USD/CAD - Faces U.S. CPI, BoC Risk, CAD Shorts At An Extreme

By Justin Mcqueen  —  Apr 11 - 05:25 AM
  • USD/CAD slips below 1.35 amid a softer dollar and positive risk appetite

  • Oil holds OPEC gap, but CAD bulls need a break above April 3rd high ($86.44)

  • U.S. CPI to have bigger sway on USD/CAD than BoC decision on April 12th

  • Large CAD bearish bets continues to present a downside risk to USD/CAD

  • Resistance at 1.3530 (100DMA), 1.3542 (55DMA) to cap USD/CAD upside

  • Support sits at 1.34 (psychogical) and 1.3395 (200DMA)

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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