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USD/CAD edging lower, making a........>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD edging lower, making a session low of C$1.3025, on the
back of Politico headlines suggesting that the Trump administration is to
announce on Thursday that it has reached a 'handshake' deal with Mexico in NAFTA
talks.
- Monday's break of the Aug 15 low (C$1.3051) has seen bears remain in charge.
This now puts trendline support from the Feb lows at risk, as well as the
100-DMA and August lows (C$1.2962). A break below these key levels would
strongly suggest a medium-term trend change. A topside break of channel
resistance is needed to suggest a bull flag breakout is in play.
- Focus on the ongoing NAFTA situation & CA retail sales data on Wednesday.
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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