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Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.38073 with take profit at 1.38671.
Alternative scenario:
Sell position is envisaged if price trades below 1.37215 with take profit at 1.36301.
Fundamentals:
None
Comment: A retracement is expected on USDCAD as there are sentiments on a fall in oil prices due to signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions.
Analysis: SCRUM Team
