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The USD/CAD begins to pick up bids as investors focus on the positive impacts of recent events in Japan and the stock market. The US Dollar benefits from declines seen in bonds and stocks, while oil prices weaken amid fears over China’s economy. Retail sales data from Canada is expected to provide another impetus for currency traders this week.

Rephrase The US Dollar holds onto its gains around $13.700 as the US Dollar reverses its losses heading into Tuesday’s European session. The Loonie pair is also up today due to a decline in Canada’s main export, namely WTI crude oil

That said, the US Dollar Index (DXY) picks up bids to pare recent losses around 104.50 as the Treasury bond yields rally on the Bank of Japan’s (BOJ) surprise. Recently, the BOJ tweaked its policy to widen the Yield Curve Control (YCC) measures while keeping the monetary policy unchanged.

Technical analysis

A daily closing beyond the 1.3700 hurdles, comprising multiple tops marked in the last two weeks, becomes necessary for the USD/CAD bulls to aim for the previous monthly high near 1.3810. Otherwise, a pullback towards the 50-DMA support of 1.3557 can’t be ruled out.


Today last price 1.3695
Today Daily Change 0.0039
Today Daily Change % 0.29%
Today daily open 1.3656
Daily SMA20 1.3538
Daily SMA50 1.356
Daily SMA100 1.3378
Daily SMA200 1.3077
Previous Daily High 1.3698
Previous Daily Low 1.3623
Previous Weekly High 1.3705
Previous Weekly Low 1.3518
Previous Monthly High 1.3808
Previous Monthly Low 1.3226
Daily Fibonacci 38.2% 1.3652
Daily Fibonacci 61.8% 1.367
Daily Pivot Point S1 1.362
Daily Pivot Point S2 1.3584
Daily Pivot Point S3 1.3545
Daily Pivot Point R1 1.3695
Daily Pivot Point R2 1.3734
Daily Pivot Point R3 1.377


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