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USDCAD Sees Push Lower Ahead Of Key BoC Surveys

CANADA
  • USDCAD has continued a sharp push lower seen since the US open, touching session low of 1.3222.
  • It’s off a high of 1.3284 seen briefly after CAD GDP/US PCE, again testing resistance at the 20-day EMA of 1.3280 having failed to materially clear it yesterday with 1.3286.
  • Prior recent increases in the pair has been considered corrective, whilst support is seen at 1.3190 (Jun 28 low) after which lies a key support 1.3117 (Jun 27 low).
  • Ahead, the BoC’s important business and consumer surveys for Q2 at 1030ET.

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