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USDCAD Pulls Away From Highs

CANADA
  • E-mini S&P moving off lows helps USDCAD nudge away from session highs, currently 1.3665 (+0.7%) as CAD outperformance to other high beta peers has been dampened through the session with ESA on net moving lower shortly after the open.
  • The technical outlook is seen as bullish. Perhaps mild resistance at the intraday high of 1.368 with the bull trigger seen at 1.3705 (Dec 16 high), clearance of which could pave the way higher to 1.3751 (Nov 4 high), whilst support is much lower at 1.3484 (Dec 27 low).

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