Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.23806 with take profit at 1.23868.
Bearish Preference:
Sell position is envisaged if price trades below 1.23673 with take profit at 1.23612.
Fundamentals:
3:00pm USD ISM Manufacturing PMI
Comment: The USD/CAD pair lacked any firm directional bias on Monday and remained confined in a narrow trading band, below the 1.2400 mark through the early European session. The pair, so far, has struggled to gain any meaningful traction and continued with its sideways consolidative price action on the first day of a new week.
Analysis: SCRUM Team
