Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.29222 with take profit at 1.29394.
Bearish Preference:
Sell position is envisaged if price trades below 1.28463 with take profit at 1.28274.
Fundamentals:
1:30pm CAD Core Retail Sales m/m
Comment: The safe-haven U.S. dollar marked a fresh 9-1/2-month high against major peers on Friday, buoyed by fears that the Delta coronavirus variant could delay the global economic recovery. The dollar index, which measures the currency against six rivals, rose as high as 93.597 for the first time since early November, before trading little changed at 93.535. For the week, it’s on track to gain 1.08%, the most in two months.
Analysis: SCRUM Team