USD - BEARISH
1️⃣ Renewed bets the Federal Reserve will not tight monetary policy anytime soon. Recent comments from several Fed officials helped to calm investors' worries over a jump in inflation and the need to pull back support.
CAD - BULLISH
1️⃣ Rising crude oil prices on the back of heightened hopes for a steady recovery in global energy demand continue to provide a boost to the commodity-related loonie.
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Technical
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We are looking to sell the USDCAD at SBR + below SMA50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.