What Wikipedia Can’t Tell You About USDCAD
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The Canadian dollar strengthened on last friday against us dollar. counterpart as crude oil prices and global stocks rallied. Crude oil prices rose up 4.11 percent to $34.43 a barrel as strong U.S. gasoline demand and hopes of opec action outweighed concerns over fundamental oversupply.
usdcad made hugh movements the last yeras, from those who follow my oldest posts,The writing was on the wall all the way from usdcad crossing 1.0730
We can see the pair is moving to the support area, the deecline from 1.4690 top is still in progress, 1.3460-1.3530 bounce there could lead to 1.40 areas .we may also could see another leg down move to 1.290-1.3350 area -break Down this support is needed to be the first sign of medium term topping.
From the other hand, it can stop on those levels and make a pull back to 1.40 area,while it needed to break resistance at 1.3730 ,1.3860 before
Break above 1.43 again on daily close will confirm higher target price again
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