USDCAD probes support
SPX 500 grinds higher
The Canadian dollar faltered after the CPI saw further cooldown in October. On the daily chart, the pair is consolidating its gains in a triangle pattern after achieving a fresh high at 1.3900 for the year. The directional bias in the medium-term remains upward even though the near term price action is range-bound. 1.3775 is the immediate hurdle and its breach would expose the top of the previously faded bounce at 1.3850, which would be a step closer to a bullish continuation. On the downside, 1.3630 is the closest support.
XAUUSD hits recent high
Jing-Ren has extensive experience in currency and commodities trading. He began his career in metal sales and trading at Societe Generale in London. He went on to work as a senior analyst within the FX industry where he developed and refined his own trading and risk management strategies. Having a solid understanding of market dynamics, he founded his own research and asset management services and works with Orbex to provide timely market commentary on the global financial markets.
