Quarter-End Adjustments Blunt Trend Moves

The US dollar is consolidating within yesterday's range against the Canadian dollar (~CAD1.2580-CAD1.2650). It has been two weeks since the greenback posted a key upside reversal from the three-year low set near CAD1.2365.The upside momentum has slowed in recent sessions. It likely takes a break of the CAD1.2540 area to boost confidence, a top is in place. The greenback traded at two-week lows against the Mexican peso in the European morning (~MXN20.5225). A break of MXN20.50 could signal a move toward MXN20.28, last week's low. Initial resistance is seen around MXN20.65.  

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Read more by Marc on his site Marc to Market.

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