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Nov 28 - 08:55 AM

USD/CAD - U.S. Dollar Hugging Support Levels Versus The Loonie

By Peter Stoneham  —  Nov 28 - 08:10 AM
  • Correction of the 1.3928-1.4175 rally holding just above the 10DMA: 1.4008

  • A 50% Fibo close behind at 1.3998, taken off the 1.3817-1.4178 climb

  • Market caught between gain consolidation and a reversal

  • A clear drop under 1.4000 might strengthen the reversal argument

  • Daily momentum readings are neutral

  • We lean bearish but will wait for stronger signals.

  • USD/CAD Trading Page TGM2345

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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