Skip to content 
Instrument: USDCAD
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.31783 with take profit at 1.31625
Alternative scenario:
Buy position is envisaged if price trades above 1.31941 with take profit at 1.32098
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment: The CAD bulls may be facing exhaustion, having engineered a 1,500-pip decline in the USD/CAD pair over the past five months. Fed’s chair Jerome Powell is expected to signal tolerance for above-target inflation during his speech at the Symposium on Thursday.
Analysis: SCRUM Team
