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Bullish Price Sequence

  • RES 4: 1.3837 Trendline resistance drawn from the Oct 13 2022 high
  • RES 3: 1.3655 High May 26 and a key resistance
  • RES 2: 1.3585 High Jun 1
  • RES 1: 1.3553 Intraday high
  • PRICE: 1.3522 @ 08:06 BST Aug 17
  • SUP 1: 1.3440 Low Aug 15
  • SUP 2: 1.3368 20-day EMA
  • SUP 3: 1.3320 Low Aug 4
  • SUP 4: 1.3266 Low Aug 2

USDCAD short-term conditions remain bullish and the pair has traded higher today. This reinforces current bullish conditions and maintains the positive price sequence of higher highs and higher lows. The pair has breached 1.3523, 76.4% of the May 26 - Jul 14 downleg. This signals scope for a climb towards 1.3655 key resistance, the May 26 high. On the downside, support to watch lies at 1.3368, the 20-day EMA.

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