Free Trial

USDCAD Back Below 50-day EMA Support Despite Lavrov Comments

CANADA
  • USDCAD trades just +0.04% at 1.2876 with CAD distinctly middle of the pack after lagging high beta majors yesterday, having only firmed on earlier Lavrov comments whilst it waits for direction from upcoming CPI inflation.
  • The earlier intraday low of 1.2855 cleared support at the 50-day EMA of 1.2878, which if sustained would add scope for a deeper pullback in the pair and potentially open a key support at 1.2819 (Jun 28 low) as it challenged a bullish trend condition.

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.