USDCAD moved lower from the key 1.37 level toward 1.357–1.36, with the idea fully playing out. The Canadian dollar was supported by a risk-on environment and stronger oil prices.
However, downside momentum is slowing, and correction risks are rising. With upcoming Fed and Bank of Canada decisions and a rate differential still favoring USD, profit-taking on shorts becomes increasingly relevant.
However, downside momentum is slowing, and correction risks are rising. With upcoming Fed and Bank of Canada decisions and a rate differential still favoring USD, profit-taking on shorts becomes increasingly relevant.
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