The USDCAD is somewhat neutral overall. By looking at the monthly and weekly timeframe, there seems to be an equal balance between buyers and sellers with the scale slightly favors the sellers at this point. Hence why the bounce on the chart could be limited to 1.31 level. Because we anticipate a bounce on USD Index, USDCAD should also follow suit before heading lower - That's the story for another day, until then...
Happy Trading, folks!
Cheers!
Happy Trading, folks!
Cheers!
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