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11 Jan 2017
CAD: Long-term support comes in at 1.3164 – RBC CM
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.”