Instrument: USDCAD+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.36361 with take profit at 1.36540
Bearish Preference:
A Sell position is envisaged if the price trades below 1.36019 with take profit at 1.35863
Fundamentals:
2:30pm USD Unemployment Claims
Comment:
The jump in prices paid in yesterday’s US ISM manufacturing, with a new cyclical high reported in the core rate, underscores the market theme of higher-for-longer. This is seen as dollar supportive but also negative for risk assets, including and especially equities.
Analysis: SCRUM Team
