Some technical analysis levels for the CAD going into today's CPI data, these are from overnight notes,
So while the notes are not fresh the levels do appear still relevant (to me at least ... as of writing the post anyway)
UBS:
- Support - 1.2690, 1.2665, 1.2630
- Resistance - 1.2707 (200dma), 1.2805, 1.2925
CAD has managed to grind above the mid-term downtrend line dating back to last May in line with the general USD bid tone and Oil slipping from the highs. A break out would be confirmed on a clear break above the 200dma (1.2707), worth noting that it hasn't been above the 200dma since June last year the next levels after that are 1.2800 and 1.2925.
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I posted previews of the CAD inflation data earlier:
