Skip to content 
Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.27050 with take profit at 1.277240.
Bearish Preference:
Sell position is envisaged if price trades below 1.26863 with take profit at 1.26705.
Fundamentals:
2:30pm CAD GDP m/m
4:00pm USD ISM Manufacturing PMI
USD JOLTS Job Openings
Comment: USD/CAD is under pressure at the start of this week and at 1.2707, begins a new trading day in bearish territory on the lower time frames. The greenback was sliding on Monday and the Canadian dollar strengthened as a consequence. Meanwhile, there are a number of factors related to the loonie which are being priced, from the rise in oil prices, better trade terms between Canada and the US in terms of lumbar, global equities and central banks.
Analysis: SCRUM Team
