ANALYSIS
NQ100 Finds Support from PPIApr 14
USDCAD:200 WMA Will Be Decisive
Against the inflationary climate in the world's largest economy, we observe that the pressure of the dollar on the currencies of developed countries increased after the members of the Federal Open Market Committee (FOMC) opened the door for another 75 basis point rate hike at the July meeting. Looking at its technical outlook, the pair, which completed its correction at the 200-period weighted moving average (WMA), continues to maintain its long-term positive potential. Above 1.2920 resistance is extremely critical. With the consolidation that will be created by exceeding this level, the level of 1.2975 may come to the fore after 1.3035. On the downside, the pair is unlikely to head into a selling path unless 1.2825, as indicated by the 200 WMA, ends permanently. However, 1.2765 support can be followed in this possible retracement scenario.
