USD/CAD Price Analysis: Drops back closer to 100-period SMA/ascending trend-line confluence – by hareshmenghani USDCAD GDP Inflation Technical Analysis Currencies
A break below the 1.3600-1.3590 confluence support will pave the way for deeper losses.USD/CAD
A modest recovery in the equity markets is seen weighing on the safe-haven US Dollar. Apart from this, bullish crudeprices underpin the commodity-linked Loonie and exert some downward pressure on the USD/CAD pair. Traders now look to the monthly Canadian GDP report and the US US Personal Consumption Expenditure data for a fresh impetus later during the early North American session.
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