Instrument: USDCAD
Bullish Preference:
A buy position is envisaged if the price trades above 1.34037 with take profit at 1.34401
Bearish Preference:
A sell position is envisaged if the price trades below 1.33592 with a take profit at 1.33181
Fundamentals:
No Major fundamental
Comment:
The U.S. dollar hit more than a one-month high on Monday as investors sought a safe haven due to concerns about China’s economy, while traders were on the lookout for Japanese government intervention after the yen fell to its lowest level since November.
Analysts said investors were buying the safe-haven dollar over concerns about the health of the global economy, particularly China.
Analysis: SCRUM Team