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USD/CAD Continues Move Higher

CAD

CAD is struggling as the broader USD trades higher against commodity tied-FX in the G10 space during Asia-Pac hours. This is perhaps linked to the COVID worries in Australia & New Zealand, with nothing much in the way of headline flow noted and oil markets little changed in Asia-Pac hours. From a technical perspective USD/CAD topped its bull trigger (C$1.2807) on Thursday and has broken through several technical resistance levels since, with bulls now looking to the January 28 high (C$1.2881) as the next point of resistance. Highs of C$1.2863 have been registered thus far, with the rate trading just off its intraday peak at typing.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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