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USDCAD Climbs Back Above 1.37 As Equities Slide

CANADA
  • USDCAD pushes back above 1.37 after a sharp shift lower in the S&P E-mini over the past thirty minutes, through yesterday’s low with next key support the Mar 13 low of 3839.25 (with the regional bank index already through its Mar 13 low).
  • It leaves USDCAD only -0.2% on the day after an 80 pip intraday swing off a low of 1.3631 that had formed new lows since Mar 7. Should risk off sentiment build, there is some scope to the upside with resistance next seen at 1.3814 (Mar 15 high).

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