Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.27097 with take profit at 1.27229.
Bearish Preference:
Sell position is envisaged if price trades below 1.26473 with take profit at 1.26258.
Fundamentals:
1:30pm CAD Core Retail Sales m/m Retail Sales m/m USD Unemployment Claims
2:45PM USD Flash Manufacturing PMI Flash Services PMI
Comment: USD/CAD appears to be unfazed by the federal election in Canada as Prime Minister Justin Trudeau secures his third term, but the pullback from the fresh monthly high (1.2896) was not being short lived if the Federal Open Market Committee (FOMC) delivers an exit strategy.
Analysis: SCRUM Team