USD/CAD: Bearish Outlook Amid Support Levels
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The USD/CAD pair has found support near the 1-year pivot point (PP), with current pricing hovering around the significant weekly support level at 1.349331. Additionally, there's anticipation of encountering substantial monthly support around 1.344618. A breakthrough past these levels could potentially lead to further downward movement. Prevailing market sentiment is somewhat inclined towards a bullish outlook, primarily attributed to the observed support at the 1-year pivot point. However, the sustainability of this sentiment hinges on how the daily resistance level performs in the near term.
TradeWithTheTrend3344
The USD/CAD pair has found support near the 1-year pivot point (PP), with current pricing hovering around the significant weekly support level at 1.349331. Additionally, there's anticipation of encountering substantial monthly support around 1.344618. A breakthrough past these levels could potentially lead to further downward movement. Prevailing market sentiment is somewhat inclined towards a bullish outlook, primarily attributed to the observed support at the 1-year pivot point. However, the sustainability of this sentiment hinges on how the daily resistance level performs in the near term.
TradeWithTheTrend3344