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USD/CAD catches a bid: takes out daily supply level

USD/CAD catches a bid: takes out daily supply level

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Giles Coghlan
08/05/2018 | 08:11 GMT

USD/CAD catches a bid

Well, I have pulled my USD/CAD shorts earlier today. Seeing the Iran nuclear deal ahead and the volatility we will see was enough to ditch my USD/CAD short.

Price is now taking out the daily supply level on a quick spike seeing 50+ points in the last hour or so. So, why? I was chatting with Justin and we couldn't see anything obvious. The most likely is that folks are moving to the safety of USD before Trump speaks later...

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