Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.29724 with take profit at 1.29925
Bearish Preference:
Sell position is envisaged if price trades below price 1.29353 with take profit at 1.29062
Fundamentals:
No Major Fundamental
Comment:
The USD/CAD pair extended its retracement slide from the YTD peak, around the 1.3075-1.3080 area set on Friday and witnessed some follow-through selling for the second successive day on Tuesday. The downward trajectory dragged spot prices to a three-day low, closer to the 1.2900 mark during the early European session and was sponsored by a combination of factors.
Analysis: SCRUM Team
