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Dec 04 - 01:55 PM

USD/CAD - Rally Sellers Get No Chances, Offers Being Lowered

By Christopher Romano  —  Dec 04 - 12:10 PM
  • US$ trades broadly lower & oil prices remain near recent highs

  • Combination is a recipe for USD/CAD to continue its bear trend

  • USD/CAD sets a 26-month low, nears the Oct. 2018 monthly low

  • Monthly & daily RSIs imply bearish momentum is still intact

  • USD/CAD rally sellers likely lower offers to the 1.2920/60 zone

  • Support from monthly cloud base might support & drive a bounce

  • Daily RSI is deeply oversold, implies risk of corrective bounce

  • For more click on FXBUZ

usd/cad Click here

Source:
Refinitiv IFR Research/Market Commentary

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