Canadian Dollar finds room on high side as data-driven markets await US PMI print. Canada data remains limited until Wednesday's CAD Retail Sales. Tuesday's US PMIs expected to show a slight uptick in activity. The Canadian Dollar is moderately higher on Monday, trading into the green against most of its major currency peers. Monday's thin economic calendar leaves both the Canadian Dollar and the US Dollar adrift as investors await meaningful data.
The pair is now targeting 1.3700, which will clear the way for a push toward a supply zone near 1.3550 as the Loonie leaks below technical support at the 200-hour Exponential Moving Average near 1.3730. Looking longer-term, daily candlesticks have the USD/CAD pair poised for a fourth consecutive down day as the Canadian Dollar extends a near-term recovery. The Greenback failed to recapture November’s highs near 1.
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Source: FXStreetNews - 🏆 14. / 72 Read more »