- The dollar advances on all fronts in the face of risk aversion and rises in Treasury bond yields.
- USD / CAD accelerates rebound from year lows.
The USD / CAD is having the best day in months on Monday, rising supported by a general advance of the dollar and before a fall in the stock markets in the world. The price broke above 1.2800 and climbed to 1.2834, the highest level since December 29.
The pair remains in the high zone with the bullish tone intact and with very short-term indicators for showing signs of overbought.to. The price is rising and the next resistance could be the 1.2850 / 55 area and then 1.2875. The 1.2780 area has now become a support to watch out for.
The USD / CAD advance is driven by the dollar rally across the market. THE DXY is at weekly highs above 90.60. At the same time, oil fell slightly and Wall Street futures have extended losses and are at their lows for the day, heading for an open with losses close to 1%.
Despite risk aversion, the CAD fails to be favored against the AUD or the NZD. It is trading unchanged against these currencies after erasing the gains in the last hour.
The focus in the US is on politics in the absence of economic data. Democratic lawmakers will try to advance the impeachment of President Trump if pressure does not prosper for Vice President Pence to act to remove Trump’s powers.
Technical levels
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