- USD / CAD Outlook is positive in the middle of the dollar security.
- Escalition of Iranian-Israel Conflicts and rising oil prices are supported by a couple.
- Diverging economic outokes limits winnings.
USD / CAD Outlook gets a wolf on Monday, posting the fifth consecutive winning series on Monday. The couple crossed the area of the middle 1,3700 on Monday before the European session. The price is open to significant pigeon, after escalated tension in the Middle East, which increased demand for the US dollar in a safe haven.
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Surgi came after a dramatic turn in the conflict of Israel and Iran. The United States entered the deception of military action over the weekend. President Trump confirmed the news through the truth of social that American forces have successfully hit the three nuclear plants of Iran, aimed at reducing Tehran effort to develop nuclear weapons. The dollar index gathered above 99.00, revealing a strong demand for Greenback in the middle of geopolitical uncertainty.
Iran rested threatening to choke the entry of a strategic guide. About 25% of oil exports pass through this route. In return, Crude Oil rose to a fresh five-month peak, borrowed some support to the Canadian dollar, which is the largest exporter of oil in the United States.
Despite the solid sound tone, USD / CAD lacks condemnation due to diverging economic drivers. Although the Safe APP APPA Collar is supported by a couple, continuing to improve Fed Policies as soon as September died, crashed enthusiasm. On the other hand, the Canadian dollar finds strength from stable monetary policy, while reducing the chance for further assessments of the Bank of Canada for persistent inflation.
The market participants now strengthened key economic data. Flash Global PMIS and the price of oil prices remain rotary for the direction of Loonie. Moreover, Canadian information on inflation and testimony at Fed Failell are also important events this week.
USD / CAD Technical Outlook: Bullish Momentum above 1,3728
The 4-hour chart shows a bilkar scenario for a couple that remains good above the 20-period SMA. However, the RSI shows the overload of the situation as the value hit 70.0. The price broke significantly above the level of resilience at 1,3728.
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However, it can be consolidated above Zone 1,3750 before finding any directional bias. For bulls, the next target is at resistance level 1,3860. On the turning side, the drop below Level 1,3728 can be dragged according to the surface 1.3700 before 1,3650.
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