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USD/CAD Each day Outlook


Each day Pivots: (S1) 1.3500; (P) 1.3557; (R1) 1.3645; Extra…

USD/CAD’s rally remains to be in progress and intraday bias stays on the upside for long run fibonacci degree at 1.3650. Break there’ll goal 161.8% projection of 1.2005 to 1.2947 from 1.2401 at 1.3925. On the draw back, under 1.3407 minor help will flip intraday bias impartial and convey consolidations first, earlier than staging one other rally.

Within the greater image, up pattern from 1.2005 (2021 low) remains to be in progress. Subsequent goal is 61.8% retracement of 1.4667 to 1.2005 (2021 low) at 1.3650. Sustained break there’ll goal 1.4667 (2020 excessive). This may now stay the favored case so long as 1.2947 resistance turned help holds.

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