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USDCAD easing back after taking run at 1.3500

USD/CAD easing back after taking run at 1.3500
  • Collapsing crude oil prices leading the CAD straight down the charts.
  • Traders will be tensing ahead of Wednesday's FOMC rate call and statement.

Although the US Dollar continues to see broad-market weakness, the CAD is getting dragged by the nose down the charts by free-falling crude oil prices, and USD/CAD clipping into the 1.3500 major handle late on Tuesday. The pair is now trading back into 1.3450, but lack of buying interest in crude oil markets is seeing the Loonie slip even further against the greenback.

Wednesday sees the FOMC delivering their latest rate call and monetary policy statement, and the major event will see markets coiling ahead of what is expected to be one last rate hike for 2018, while markets will be looking out for changes to the FOMC's rhetoric, with investors afraid that the US Fed will be knocked off their current three-hike dot-plot on slumping global growth figures.

USD/CAD Technical Levels

Today Last Price: 1.3456
Today Daily change: -23 pips
Today Daily change %: -0.171%
Today Daily Open: 1.3479

Previous Daily SMA20: 1.3318
Previous Daily SMA50: 1.3198
Previous Daily SMA100: 1.3106
Previous Daily SMA200: 1.3033

Previous Daily High: 1.3498
Previous Daily Low: 1.3391
Previous Weekly High: 1.3424
Previous Weekly Low: 1.3292
Previous Monthly High: 1.336
Previous Monthly Low: 1.3048
Previous Daily Fibonacci 38.2%: 1.3457
Previous Daily Fibonacci 61.8%: 1.3432
Previous Daily Pivot Point S1: 1.3414
Previous Daily Pivot Point S2: 1.3349
Previous Daily Pivot Point S3: 1.3307
Previous Daily Pivot Point R1: 1.3521
Previous Daily Pivot Point R2: 1.3562
Previous Daily Pivot Point R3: 1.3627

Source: https://www.fxstreet.com/news/usd-cad-e ... 1812190240
外国為替ニュースFundamentals! News Coverage

Canada November CPI +1.7% vs +1.8% y/y expected

#Canada Nov 2018 #CPI m/m -0.4% vs -0.4% exp, prior 0.3%: CPI y/y 1.7% vs 1.8% exp, prior 2.4%Core CPI m/m -0.2% vs 0.4% prior Core CPI y/y 1.5% vs 1.6% prior

外国為替ニュースFundamentals! News Coverage

USDCAD drops to 3-week lows

USD/CAD drops to 3-week lows, around mid-1.3300s

  • The prevalent USD selling bias keeps exerting downward pressure on Monday.
  • A stronger recovery in oil prices further underpin Loonie and add to the selling bias.

The USD/CAD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow trading band around mid-1.3300s, or near three-week lows.

The pair traded with a mild negative bias for the fourth consecutive session, with a combination of factors now paving the way for an extension of last week's sharp retracement slide from the 1.3660-65 supply zone, or 19-month tops.

Despite Friday's blockbuster US monthly jobs report, growing bets that the Fed might halt its policy tightening cycle in 2019 kept the US Dollar bulls on the defensive at the start of a new trading week and failed to provide any immediate respite.

This coupled with a strong follow-through recovery in crude oil prices, supported by renewed optimism over the US-China trade talks and OPEC-led supply cuts, further underpinned the commodity-linked currency - Loonie and collaborated to the pair's weaker tone.

It would now be interesting to see if the pair is able to attract any buying interest at lower levels or the ongoing bearish slide marks the end of the recent upsurge as market participants now look forward to the release of US ISM non-manufacturing PMI for some fresh impetus.

Technical levels to watch
A follow-through selling is likely to accelerate the fall towards testing the 1.3300 handle before the pair eventually drops to the 1.3350-40 support area. On the flip side, the 1.3390-1.3400 region now seems to cap any attempted recovery move, above which a bout of short-covering could further assist the pair towards challenging the 1.3475-85 supply zone.

Source: https://www.fxstreet.com/news/usd-cad-d ... 1901070809
外国為替ニュースFundamentals! News Coverage

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