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Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.32719 with take profit at 1.32967.
Bearish Preference:
Sell position is envisaged if price trades below 1.31914 with take profit at 1.31636.
Fundamentals:
2:30pm CAD CPI m/m
CAD Median CPI y/y
CAD Trimmed CPI y/y
Comment:
Prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains. The United States Navy’s Fifth Fleet said it aware of an incident on Wednesday in the Gulf of Oman involving a commercial vessel.
Analysis: SCRUM Team
