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CAD Crosses At A Glance

Published 2018-08-17, 10:50 a/m
Updated 2023-07-09, 06:32 a/m

With markets expecting the Bank of Canada to hike in October, today's CPI data from Canada is a core focus for markets. We take a look at USD/CAD, GBP/CAD and NZD/CAD daily charts to highlight key levels.

USD/CAD Daily

  • Compressing beneath the June retracement line ahead of today’s CPI data.
  • A break of 1.3114 or 1.3175 could mark the beginning of its next directional move.
  • A break above retracement line assumes resumption of the bullish trend.

GBP/CAD

  • Trend remains bearish, a break of 1.6589 confirms resumption of the trend.
  • Currently consolidating between the November 2017 and January 2018 lows.
  • A break above 1.6806 would provide a counter-trend signal over the near-term.

NZD/CAD Daily

  • Currently retracing after breaking to a near 3-year low.
  • Trend remains bearish but the December lows (0.8682/90) could prove pivotal over the near-term.
  • At current levels the cross is on track for a weekly bullish pinbar.

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