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USD/CAD Day by day Outlook


Day by day Pivots: (S1) 1.3650; (P) 1.3765; (R1) 1.3832; Extra…

USD/CAD is staying in consolidation from 1.3976 and intraday bias stays impartial. Outlook will keep bullish so long as 1.3501 assist holds. Agency break of 1.3976 will resume bigger up development, and goal 200% projection of 1.2005 to 1.2947 from 1.2401 at 1.4285.

Within the greater image, up development from 1.2005 (2021 low) remains to be in progress. Primarily based on present impulsive momentum, it might be resuming long run up development from 0.9056 (2007 low). Whether or not it’s or it isn’t, retest of 1.4689 (2016 excessive) must be seen subsequent. It will now stay the favored case so long as 1.3222 resistance turned assist holds.

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