Fri, Jan 21, 2022 @ 01:31 GMT
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Fresh selling in USD after Saudi Arabia intercepted missiles over Riyadh, CAD follow oil higher

USD suffers another round of selloff after report that Saudi Arabia intercepted missiles over Riyadh after at least three blasts were heard in the city. WTI crude oil surges to as high as 66.82. It remains to be seen if it can sustain above key resistance level at 66.66. But momentum is promising.

Riding on the news, USD/CAD extends recent to as low as 1.2544. It’s on course to next support level at 1.2450.

DOW opened lower but stabilized in initial trading. It’s currently struggling around 55 H EMA, feeling heavy. Losing 24200 handle will likely prompt sellers to come out and send DOW back to 24000 handle.

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