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USDCAD Analysis

Daily Market Analysis 03.08.2023: USDCAD

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Instrument: USDCAD

Bullish Preference: 
A buy position is envisaged if the price trades above 1.33774 with take profit at 1.33843
Bearish Preference: 
A sell position is envisaged if the price trades below 1.33556 with take profit at 1.33501
Fundamentals:
1:30pm USD Unemployment Claims
3:00pm USD ISM Services PMI

Comment: 
USD/CAD buyers keep the reins around 1.3350, despite the latest inaction, as market players await the key US data heading into Thursday’s European session. In doing so, the Loonie pair seesaws at the highest levels in a month, flashed earlier in the day, while pausing a two-day winning streak.

Analysis: SCRUM Team

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