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FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption

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USD/CAD up slightly regardless of China RRR & oil

Monday, April 20, 2015 10:15 AM UTC

Daily cloud base & 100-DMA 1.2220 weigh on USD/CAD recovery
China RRR cut initially boosted CAD but impact was limited
Higher oil a barrier to CAD decline, Especially with specs short CAD
Breaks April 17 high 1.2272 or Jan 21 1.2062 low needed to stimulate

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USD/CAD up slightly regardless of China RRR & oil

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