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USDCAD test April peak

CAD
  • USDCAD test the April peak, also the highest level since 10th March, on lower Oil but also on USD acting as a safer haven on Covid concerns.
  • OPEC and its allies agreed on a 400k/bpd output from next Month.
  • Most market participants will now see 1.2700 as initial resistance in USDCAD.


Chart source: Bloomberg

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