Free Trial

TECHS: Commodity Tied FX Under........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Commodity Tied FX Under Pressure
The pullback in oil saw USDCAD rally to highs of 1.3309 yesterday, before fading
around the NY close. Rate consolidates in narrow range trade with the cloud base
at 1.3317 so far capping topside gains. Above here brings the 100-dma & 38.2%
retracement of 1.3565-1.3226 into view at 1.3348/55. Bears need to take out the
200-dma at 1.3275 to return the focus to the Jun 10 low & 50% retracement at
1.3226/24.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.