Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.39092 with take profit at 1.38737
Alternative scenario: Buy position is envisaged if price trades above 1.39711 with take profit at 1.40137
We expect no major economic data with direct bearing on the pair.
Comment: The Canadian dollar is on the rise amid the better market mood supported by crude oil prices. Private inventory data has shown a surprising draw, lending more support for crude prices.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 24139 with take profit at 23880
Alternative scenario: Buy position is envisaged if price trades above 24411 with take profit at 24670
FOMC Meeting Minutes (USD) 7 pm
Comment: A bearish move seems likely after yesterday's range. An account of the Federal Reserve’s most recent policy meeting, released later in the session, may also draw investors' attention.
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