Instrument: USDCAD
Bullish Preference:
A buy position is envisaged if the price trades above 1.35633 with take profit at 1.35785.
Bearish Preference:
A sell position is envisaged if the price trades below 1.35205 with take profit at 1.35019
Fundamentals:
No major Fundamental
Comment:
USD/CAD languishes at the highest level since June 01, recently easing from the multi-day top, as market players seek more clues to defend the five-day uptrend heading into Friday’s European session. In doing so, the Loonie pair justifies recently firmer prices of the WTI crude oil, Canada’s key export item, as well as benefits from the US Dollar’s retreat.
Analysis: SCRUM Team