USDCAD started the week on a bearish note and reversed Friday’s gains. Despite the pullback, the uptrend remains intact. The latest recovery from 1.3503, Oct 10 high, reinforces bullish conditions and this low represents a key short-term support. Moving average studies continue to highlight an uptrend and 1.3838, the Sep 30 high and key resistance has been cleared, strengthening bullish conditions. Support to watch is 1.3632, the 20-day EMA.
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Inside session range for Tsys after the bell, curves steeper with short end outperforming all day, Modest volumes (TYZ2<1.1M) going into the weekend (London out for Queen's funeral Mon), FOMC annc Wed (75bp hike widely expected), BoE Thu.