Instrument: USDCAD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.26731 with take profit at price 1.26838.
Bearish Preference:
A sell position is envisaged if price trades below price 1.26468 with take profit at price 1.26382.
Fundamentals: 3:00pm USD Prelim UoM Consumer Sentiment
Comment:
Despite the broad-based USD strength, rising crude oil prices helped the commodity-related loonie stay resilient against its American counterpart throughout the week. On the other hand, the US Dollar Index, which rose 0.4% on the back of upbeat August Retail Sales data and rising US Treasury bond yields on Thursday, is consolidating its gains around 92.80.
Analysis: SCRUM Team
