Usd/cad Technicals

Usd/cad Technicals


Quotes from RBC Capital Markets:
USD/CAD: Probing channel base at 0.9997. USD/CADr emains in a downtrend as per a descending channel pattern that is in place. The 200-day moving average at 1.0107 and the channel top at 1.0238 are expected to attract selling interest in this regard, with a break below the channel base at 0.9997 required to add to bearish momentum. This outcome would expose 0.9902 and 0.9801 next, with a daily close above 1.0238 required to nullify our bearish stance.


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