VOT Research Desk
The USD/CAD pair experiences some purchasing in the 1.3315–1.3320 range and makes a slight comeback from a new weekly low reached earlier this Friday.
While lacking bullish conviction, the pair maintains its gains at the 1.3350 area through the early North American session and appears to have ended a three-day losing skid for the time being.
The US Dollar gains some momentum on the final day of the week thanks to a little increase in US Treasury bond yields, which is therefore regarded as providing some support for the USD/CAD pair.
However, the USD bulls are being restrained from making risky bets and the major’s upside potential is being limited by the growing belief that the Fed would decrease the pace of its policy tightening.
|
Daily SMA20 |
1.3449 |
|
Daily SMA50 |
1.3566 |
|
Daily SMA100 |
1.3267 |
|
Daily SMA200 |
1.3008 |
