USD/CAD Price Dominated By Bears At 1.26 Ahead Of US Prelim GDP

The USD/CAD could develop a larger downside movement if it drops and stabilizes below the median line (ML) and under the weekly S1 (1.2573) level. From the technical point of view, jumping and closing above 1.2643 immediate high indicates an upside momentum. On the other hand, its failure to reach the S1 could signal a potential growth towards the weekly pivot point (1.2761).

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