Technical Analysis

USD/CAD nears the 55-day shifting common as positive factors speed up

Every little thing goes unsuitable for the loonie right this moment

The mix of danger aversion and a droop in oil costs has despatched USD/CAD hovering previously two days. Crude is close to the lows of the day down $1.85 to $52.15 whereas US shares droop on worries a couple of commerce take care of China.

Democrats within the Home are additionally speaking about modifications to the brand new NAFTA deal.

USD/CAD is up 96 pips on the day to 1.3313. The pair lower by the 100-day shifting common earlier right this moment and is now nearing the 100-dma at 1.3347. Search for that and the late-January excessive of 1.3375 to cap the present transfer.

Everything is going wrong for the loonie today

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