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USD/CAD Each day Outlook


Each day Pivots: (S1) 1.3553; (P) 1.3690; (R1) 1.3759; Extra…

Break of 1.3601 minor assist suggests quick time period topping in USD/CAD at 1.3832. Intraday bias is again on the draw back for pull again. However draw back ought to be contained above 1.3222 resistance turned assist to convey rebound. On the upside, break of 1.3832 will resume bigger up pattern to 161.8% projection of 1.2005 to 1.2947 from 1.2401 at 1.3925.

Within the larger image, up pattern from 1.2005 (2021 low) remains to be in progress. Based mostly on present impulsive momentum, it may very well be resuming long run up pattern from 0.9056 (2007 low). Whether or not it’s or it isn’t, retest of 1.4689 (2016 excessive) ought to be seen subsequent. This can now stay the favored case so long as 1.3222 resistance turned assist holds.

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