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Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.20909 with take profit at 1.21009.
Bearish Preference:
Sell position is envisaged if price trades below 1.20748 with take profit at 1.20643.
Fundamentals:
No major fundamental.
Comment: USD/CAD is a touch lower as the North American session moves along trading at 1.2063 trading within a range of 1.2106 and 1.2057.
Risk appetite is has been weighed upon following US Treasury Secretary Yellen’s comments over the weekend. Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation that persists into next year and higher interest rates. There are mixed takes on implications of both the jobs data and Yellen comments.
Analysis: SCRUM Team
