USD/CAD fails to reclaim the 20-DMA, though it remains positive and hovers around 1.2835 By christianborjon USDCAD Majors Macroeconomics Technical Analysis
later reclaimed by USD/CAD bulls that struggled at the 20-DMA at around 1.2868. At the time of writing, the USD/CAD is trading at 1.2836., a measure of the greenback, rose more than 0.23% and is sitting at 103.060, a tailwind for the USD/CAD. Also, a dampened market mood increased appetite for safe-haven peers in the FX space, particularly the buck, while the JPY is the weakest on the week’s last trading day.plunging between 1.51% and 2.49%, reaching fresh 52-week lows.
Analysts at TD Securities wrote in a note that the report might keep the Bank of Canada under pressure to bring policy to neutral. They added that although “The Bank has already acknowledged that additional 50bp hikes are likely, today’s report is unlikely to tip the scales towards a 75bp hike.” “We continue to look for the Bank to hike by 50bps in June and July to bring the overnight rate to 2.00%, before switching to 25bp hikes from Sept-Jan,” TD Securities analysts noted.Friday’s price action shows that the USD/CAD tumbled below the 20-day moving average at 1.2869, and albeit being positive in the session, USD/CAD buyers have been unable to reclaim the level. Still, it’s worth noting that the Relative Strenght Index , although it fell off the cliff from around 80 readings to 51.
That said, the USD/CAD first resistance would be the 20-DMA at 1.2869. Break above would expose the 1.2900 mark, followed by the May 16 daily high at 1.2981, then the figure at 1.3000. On the flip side, the USD/CAD first support would be 1.2800. Once cleared, the next demand zone would be the April 29 daily low at 1.2718, followed by the confluence of the 50 and 100-DMA at 1.2695 and 1.2690, respectively.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
All mandatory evacuations lifted for Laguna Niguel fire that charred 200 acres, destroyed 20 homesBREAKING NEWS: LagunaNiguelCty says all mandatory evacuation orders issued due to the massive brush fire in Laguna Niguel that destroyed dozens of homes have been lifted.
Lire la suite »
Crypto News, May 20: Tether Shows Its Books, Ethereum Shows a Merge Date | CoinMarketCapToday's news 👇 ▶️ Tether Reports 17% Decrease in Commercial Paper📉 ▶️ Ethereum's Merge to Happen in August, Says Core Dev🗓 ▶️ G7 Looking to Regulate Crypto ASAP🏃♂️ ▶️ Commonwealth Bank Pauses Crypto Trading Trial⏸ ▶️ FTX US to Move Into Stock Trading💵
Lire la suite »
20 years after spate of hospital deaths, ex-worker accusedTwenty years after a spate of deaths at a rural Missouri hospital, a former worker has been charged with murder.
Lire la suite »
This morning's top headlines: Friday, May 20Click here to view this item from http://tucson.com.
Lire la suite »