Instrument: USDCAD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.27486 with take profit at 1.27658.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.26925 with take profit at 1.26732.
Fundamentals:
3:00pm USD Fed Chair Powell Testifies
Comment: The greenback hovered near a one-year high versus major peers on Thursday as expectations mounted that the Federal Reserve will taper stimulus from November, The safe-haven dollar has made sharp gains over the last two sessions on concern the Fed could withdraw economic support as global growth slows and high inflation is high. Spiking bond yields added to the currency’s firmness.
Analysis: SCRUM Team
