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USDCAD Mid-Range On Victoria Day

CANADA
  • USDCAD dips towards the middle of the day’s range at 1.3504 for almost unchanged on the day with an uptick in equities.
  • Holiday trade for Victoria Day sees it within the range of the prior two sessions and CAD more broadly mid-pack of majors.
  • Resistance is seen at 1.3568 (May 5 high) and then 1.3640 (May 3 high) whilst support at 1.3404 (May 16 low post-CPI) and then 1.3363 (May 11 low).
  • Option expiry: Only small expiry at nearby strikes for today’s cut with just $0.3b at 1.3500, but tomorrow is notable with $1.1b at 1.3600, landing after latest cost price indicators.

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