The Canadian Dollar (CAD) is broadly higher, gaining ground against nearly all of its major currency peers on Monday. The CAD is up nearly a quarter of a percent against the US Dollar (USD) and has gained around half of a percent against the Japanese Yen (JPY).
USD/CAD has drifted into familiar lows once more, backsliding into a familiar demand zone below 1.3670. The pair is cycling 1.3660 as CAD buying against the US Dollar keeps the pair pinned below the 200-hour Exponential Moving Average (EMA) near 1.3695.
Daily candlesticks leave USD/CAD in slightly more bullish technical shape, trading north of the 200-day EMA at 1.3550. The pair is up 3.1% in 2024 but is still trading on the low side of the YTD peak near 1.3850q
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