CAD: Long-term support comes in at 1.3164 – RBC CM

Sandeep Kanihama FXStreet Contributor

Adam Cole, Head of G10 FX Strategy at RBC Capital Markets, notes that the important long-term support comes in for CAD at 1.3164 today, with 1.3268 and 1.3313 serving as resistance.

Key Quotes

“There are no data releases scheduled in Canada today, leaving CAD to track broader moves in the USD for direction. The currency has failed to respond materially to stronger than expected CA employment and trade data on Friday, along with the better tone that was contained in Monday’s Q4 Business Outlook Survey.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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