- Oils pops buoying CAD, 1.3190-1.3224 was European am range for USD/CAD, currently trading at 1.3176
- Huge hammer on Fri's candlestick line highlights the overall bullish bias, but short term downside likely
- Breaks above 21-Day MA at 1.3240 a positive for bulls, daily close above tenkan line at 1.3162 adds to upside potential
- Large USD 600mn 1.3185 option expiry today exerts magnetism, 1.3161 (Tenkan-Sen) could provide support
- BoC Governor Poloz due to speak in Calgary at 1830GMT, also in focus will be US Existing Home Sales and speech by Atlanta Fed's D.Lockhart
R1: 1.3182 (Session Low Sep 21)
R2: 1.3236 (Session High Sep 21)
R3: 1.3240 (21-Day MA)
Support Levels:
S1: 1.3161 (Tenkan-Sen)
S2: 1.3100 (Psychological Level)
S3: 1.3013 (Daily low Sep 18)