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USDCAD Weekly FX Strategy

Exclusive Capital Ltd.

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USDCAD appreciated from Friday’s lows from 1.2894 to 1.3000 due to taking profit and China’s turmoil. On the contrary, the unemployment rate continues to decline with moderate wage growth. In addition, the Bank of Canada may continue the rate hike cycle. The next meeting on 24th is ready to increase by 25bp to then 1.75%. Major support is found at the 1.2886 and resistance at the 1.3180.

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Exclusive Capital Ltd. Review

Source: https://www.exclusivecapital.com/usdcad-weekly-fx-strategy/
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