Technical analysis: Canadian Dollar broadly softens on Friday as investors disinterested
The Canadian Dollar (CAD) slumped across the board on Friday, easing around a tenth of a percent against the US Dollar (USD) despite a bullish start to the day. A broad-market recovery for the New Zealand Dollar (NZD) sees the CAD shed a full percent against the Antipodean currency, with an additional eighth of a percent falling to the Australian Dollar (AUD). The CAD is also down around half of a percent against the Euro (EUR).
USD/CAD rallied to the top end of a recent demand zone between 1.3680 and 1.3630 after a quick descent Friday morning into 1.3610. The pair’s downside run proved to be short-lived, and bids are back to challenging chart territory near 1.3700
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