Instrument: USDCAD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.34018 with take profit at 1.34411
Alternative scenario:
Sell position is envisaged if price trades below 1.33592 with take profit at 1.33282
Fundamentals:
No major economic data with bearing on the pair.
Comment: The pair is expected to trade higher today owing to the release of better than expected job data from the US on Friday. The Loonie is expected to trade lower as a major components of the economy (OIL) stalls around $44 with a key resistance obstructing a move to the upside.
Analysis: SCRUM Team
