Instrument: USDCAD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.36665 with take profit at 1.36768
Bearish Preference:
A sell position is envisaged if the price trades below 1.36504 with take profit at 1.36368
Fundamentals:
3PM USD CB Consumer Confidence
Comment:
The intraday uptick could be attributed to a modest US Dollar (USD) bounce from a two-day low, supported by a fresh leg up in the US Treasury bond yields. The takeover of Silicon Valley Bank by First Citizens Bank & Trust Company from the Federal Deposit Insurance Corporation (FDIC) eases fears of a full-blown banking crisis.
Analysis: SCRUM Team
