With new records for the dollar against the Canadian Dollar the pair found the tendency to progress towards the downside with new records, The pair last time hit the long term trend at 1.0600 to set the new target on the long run. We expect the pair to progress towards the down side as long as the pair stays below 1.0770s resistance level.
The trading range for today will be between the key resistance at 1.0720 and the key support at 1.0560.
The general trend is down as far as 1.1220 remains intact, targets will be at 1.0478 and 1.0320.
selling USD/CAD below 1.0630 with a target at 1.0580, stop loss above 1.0680.
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