The Euro, The Yen, The Loonie: Really The Same Old Song?

USD/CAD – Bouncing From Support?

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We observed USD/CAD attempting to extend gains late in the previous week that were met with a subsequent pullback. We mentioned on Friday that this:

(…) could be nothing more than a verification of the earlier breakout above the yellow resistance zone.

Indeed, this still looks to be the case today. Therefore, as long as there is no daily close below the yellow resistance-turned-support zone, another attempt to move higher wouldn’t surprise us in the least.

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