USD/CAD -12/3/2021-
• Pair approaching YTD lows near 1.24680
• The latter should act as medium term support and prevent further losses
• Strong Canadian jobs data signal a stronger recovery compared to the U.S
• Rising oil prices adds to the downside pressure
• Breaking 1.24680 exposes 2017 lows near 1.22470
• The latter should act as medium term support and prevent further losses
• Strong Canadian jobs data signal a stronger recovery compared to the U.S
• Rising oil prices adds to the downside pressure
• Breaking 1.24680 exposes 2017 lows near 1.22470
Ramzi Abou Abdallah, CFTe, CMT
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