Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.27515 with take profit at 1.27628.
Bearish Preference:
Sell position is envisaged if price trades below 1.27200 with take profit at 1.27087.
Fundamentals:
Tentative USD Treasury Currency Report
Comment:
USD/CAD refreshes intraday high to 1.2693 to mark the first positive day in the last four with 0.36% daily gains by the press time of early Friday. In doing so, the Loonie pair takes clues from the US dollar’s strength and the downbeat prices of Canada’s main export item, namely WTI crude oil.
Analysis: SCRUM Team
