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Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21009 with take profit at 1.21147.
Bearish Preference:
Sell position is envisaged if price trades below 1.20709 with take profit at 1.20567.
Fundamentals:
1:30pm CAD Core Retail Sales m/m
CAD Retail Sales m/m
2:45pm USD Flash Manufacturing PMI
Comment: The dollar hovered around recent lows on Friday and was set to notch a modest weekly drop as traders’ concerns at taper talk in Federal Reserve minutes faded, though a pullback in commodity prices and nerves about virus outbreaks kept losses in check.
Analysis: SCRUM Team
