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USDCAD Technical Analysis - Rangebound

On the daily chart below, we can see that the USDCAD rejected again the 1.3650 resistance and fell back down towards the 1.3405 support. We have created a range here between the 1.3300 support and 1.3650 resistance. The USD appreciation caused by strong data in May and interest rates repricing on the hawkish side was reversed in the last two days as some Fed members hinted to a pause in June to wait and see more data. The soft readings in the ISM Manufacturing PMI and Unit Labour Costs yesterday... Read More

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Content Topics

Usdcad

Technical

Analysis

Rangebound

Forex

Posted: Jun 2 2023, 08:00

Author Name: forexlive

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