The Canadian Dollar (CAD) is broadly mixed on Tuesday, gaining ground against the US Dollar (USD) and Japanese Yen (JPY) but falling back against the Swiss Franc (CHF) and Australian Dollar (AUD). The CAD climbed around a quarter of one percent against the Yen and a scant tenth of one percent against the Greenback, but fell nearly seven-tenths of one percent against the Swiss Franc and decline half of a percent against the Aussie.
USD/CAD slipped back into all-too-familiar consolidation levels on Tuesday, treading water in a rough consolidation range between 1.3760 and 1.3720. Near-term momentum remains hung up on median bids at the 200-hour Exponential Moving Average (EMA) at 1.3730.
Despite holding in bullish territory above the 50-day EMA at 1.3674, daily candlesticks remain sluggish, trading on the low side of last week’s peak bids near 1.3790. Bullish momentum has drained out of USD/CAD, and bidders may be primed for a fallback to rising technical support below the 1.3700 handle.
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