Key USD/CAD Ranges to Watch
CAD Evaluation and Speaking Factors
- USD/CAD | Downtrend Stays Intact
- Unwind of Brief CAD Positioning Dangers Accelerating USD/CAD Losses
- Canadian Greenback Technical Ranges
USD/CAD | Downtrend Stays Intact
The theme of US Dollar stays intact, notably in USD/CAD with the persistent downtrend hitting contemporary put up COVID lows following a break beneath help at 1.3170. In flip, given that there’s little in the best way of notable help, USD/CAD raises the danger of accelerating losses in direction of the 1.3000 deal with. Alongside this, the newest CFTC information highlights that speculators remain short on the Canadian Dollar and thus an unwind of bearish bets supplies scope for USD/CAD to fall additional. On the topside, resistance is located at 1.3200, whereby beneath this stage maintains the bearish bias in USD/CAD.
of clients are net long.
of clients are net short.