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Long

USD/CAD Short Term Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
112 0 0
USD/CAD             has retreated after making a high of 1.2640 level. Short term trend is bullish as long as support 1.2540 (200 day HMA) holds.

On the downside any break below 1.2540 will take the pair further down till 1.2500/1.2480.

The pair’s minor resistance is around 1.2620 and any break above would extend gains till 1.2660/ /1.27080 in short term.

Indicators (1 Hour chart)

Woodies CCI (14) - Neutral

Recommendation: Buy USD/CAD             around 1.2580, SL 1.2538, Target 1.2700.
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