USD/CAD Price Analysis: Keeps the red near 1.3400 mark, bulls not ready to give up – by hareshmenghani USDCAD Technical Analysis Majors Currencies
An uptick in oil prices underpins the Loonie and exerts pressure amid broad-based USD weakness.USD/CAD
The US Dollar comes under renewed selling pressure and stalls its recovery momentum from a three-month low, which, in turn, acts as a headwind for the USD/CAD pair. Rising bets for smaller interest rate hikes by the From a technical perspective, the overnight failure near a horizontal support breakpoint now turned resistance, and the subsequent fall favours bearish traders. Moreover, oscillators on the dailyhave been struggling to gain any meaningful positive traction. That said, bullish resilience below the 1.3400 mark warrants some caution.
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