Technical analysis: Canadian Dollar churns on data-light Thursday, but gains remain thin
The Canadian Dollar (CAD) is mixed on Thursday, giving a middling performance in overall quiet markets. The CAD is up over a tenth of a percent against the Swiss Franc (CHF) and the Japanese Yen (JPY), but falling back a fifth of a percent against the Euro (EUR) and the Pound Sterling (GBP).
USD/CAD is stuck close to Thursday’s opening bids after an early dip to 1.3680. The pair remains stuck in a price action trap near the 1.3700 handle as intraday bids get hung up on the 200-hour Exponential Moving Average (EMA) at 1.3692.
Daily candlesticks are forming a bullish bounce after running aground of the 50-day EMA at 1.3676 and is set to snap a near-term losing streak after the pair flubbed a bullish recovery of the 1.3800 handle earlier in June.
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