zevgma
Long

A critical support zone for USDCAD

FX:USDCAD   U.S. Dollar/Canadian Dollar
70 0 2
After "shifting" the green upward channel higher in the late January (acceleration), we are now arriving at a critical support zone for USDCAD             at around 1.3550 US Dollars (the blue channel).

From a fundamental perspective, Canadian dollar             is an oil-dependent currency. And since oil             price is still going down and US numbers are "not so bad", we might see a significant recovery in the USDCAD             in the near term, if 1.3550 support area holds.
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