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USD/CAD - Monitoring Uptrend Channel

USD/CAD is well into a bullish momentum. The pair keeps on moving higher. Hourly support is given at 1.2895 (18/05/2016 low) while hourly resistance can be found at 1.3185 (intraday higher). Expected to show continued strengthening in case the upper bound of the symmetrical triangle is broken.

In the longer term, the pair is now trading well below the 200-day moving average. Strong resistance is given at 1.4948 (21/03/2003 high). Stronger support can be found at 1.1731 (06/01/2015 low).

Daily Technical Report

 

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