USDCAD at support ahead of CPI

20 thg 8

Intraday Update: It gores without saying how important the 1.3590-1.3600 level support is on the USDCAD is and has been most of 2024. The daily RSI is very oversold, and Canadian inflation is today. If short USDCAD you have to be careful, but stops below the 1.3590 may be targeted today should inflation come in "sticky." Only back above 1.3655 takes the downside pressure off.