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Daily Market Analysis 25.02.2022: USDCAD

Instrument: USDCAD

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if price trades above 1.28071 with take profit at 1.28238.
Bearish Preference: 
A Sell position is envisaged if price trades below 1.27600 with take profit at 1.27451.
Fundamentals:
2:30pm USD Prelim GDP q/q
USD Unemployment Claims 

Comment: 
The USD/CAD pair keeps its range around1.2800, as investors wait for the announcement of sanctions from the West in response to Russia’s invasion of Ukraine. The headlines from CNN that “Russian military forces are expected to begin a large-scale bombardment of the Ukrainian capital city of Kyiv” have held the nerves of investors.

Analysis: SCRUM Team

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