NAFTA taking centre stage
=> The recent downside has unlocked the key support at 1.27xx at the 50% retracement of the current rally.
=> Below 1.3025 means we will see a test at the more meaningful support zone - the August low
=> To the upside we don't see much opportunity here as resistance at 1.3110 caps the move immediately.
=> Trump has given the narrative of NAFA talks "going well" and naturally Canada will be forced to agree, no matter what Trudeau says....
=> Here CAD is starting to look very heavy and will be forced to devalue to offset the losses in trade via NAFTA.
=> GL all
=> Below 1.3025 means we will see a test at the more meaningful support zone - the August low
=> To the upside we don't see much opportunity here as resistance at 1.3110 caps the move immediately.
=> Trump has given the narrative of NAFA talks "going well" and naturally Canada will be forced to agree, no matter what Trudeau says....
=> Here CAD is starting to look very heavy and will be forced to devalue to offset the losses in trade via NAFTA.
=> GL all
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