Instrument: USDCAD
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.33380 with take profit at key level 1.33153
Alternative scenario:
Buy if price trades above 1.33607 with take profit at 1.33939
Fundamentals:
CAD
Unemployment Rate
USD
Average Hourly Earnings m/m
Non-Farm Employment Change
Unemployment Rate
Comment: Although oil has seen consistent rise thanks to the weak dollar and the US law makers uncertainty concerning the new stimulus package bill in congress, investors feel there is optimism that congress would get their acts together and pass the bill. So we are seeing a slow but steady rise in the dollar.
Analysis: SCRUM Team