Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades 1.27420 above with take profit at 1.27588.
Bearish Preference:
Sell position is envisaged if price trades below 1.26854 with take profit at 1.26686.
Fundamentals:
2:30pm USD CPI m/m
USD Core CPI m/m
Comment: USD/CAD pares intraday losses amid a sluggish European morning on Friday. Alike other major currency pairs, the Loonie also awaits the key US inflation figures for near-term direction. Also challenging the pair traders are the mixed signals concerning the Bank of Canada (BOC) and the Fed.
Analysis: SCRUM Team
