Archived IMT (2009.03.24)

Further selling in equities could prolong fresh losses in CAD, hence, the consolidating support in USDCAD at 1.2205 is expected to lead to added gains into 1.2230 and 1.2260s. USDCAD's moves are characteristically accelerated at the turn of the US/EUR sessions, thus we could see a break above 1.2250s and onto the session's high of the 1.2280. Watch the losses in US indices as they magnify CAD selling. EUR falls out of favor, especially against GBP after supportive CPI figures. 0.9170 low could well be probed again onto 0.9100.