USDCAD Analysis

Daily Market Analysis 16.11.2022: USDCAD

Instrument: USDCAD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.32719  with take profit at 1.32967.
Bearish Preference: 
Sell position is envisaged if price trades below 1.31914 with take profit at 1.31636.
2:30pm CAD   CPI m/m
              CAD    Median CPI y/y
              CAD    Trimmed CPI y/y

Prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains. The United States Navy’s Fifth Fleet said it aware of an incident on Wednesday in the Gulf of Oman involving a commercial vessel.

Analysis: SCRUM Team

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