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Forex News USD/CAD

4.50 star(s) 4 Votes
It pulled back from 1.3275 after forming a shooting star candlestick at that level on the daily time-frame, it may now drop to 1.3200.
 
I expected a further move south but USD/CAD found a support at 1.3190 and is now back 1.3240. Next target is around 1.3270 again.
 
It rallied above 1.3300 and reached to 1.3320 and then pulled back from it. We may be in for a correction finally.
 
1.3300 is still holding, the pair may depreciate back toward 1.3275 - 1.3270 but I doubt there will be a bigger movement.
 
USD/CAD is relatively bullish so it may continue rising to 1.3300 but I doubt it will break out above that level soon.
 
USD/CAD failed to break out below 1.3160 this week but remains bearish, let's see how it will develop on Monday.
 

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