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Key Support Zone Remains Exposed

USDCAD TECHS
  • RES 4: 1.3730 76.4% retracement of the Mar 10 - Apr 14 low
  • RES 3: 1.3695 High Mar 28
  • RES 2: 1.3668 High Apr 28 and key resistance
  • RES 1: 1.3479/85 20-day EMA / High Jun 1
  • PRICE: 1.3344 @ 08:11 BST Jun 9
  • SUP 1: 1.3322 Low Jun 07
  • SUP 2: 1.3315 Low May 8
  • SUP 3: 1.3302 Low Apr 14 and a key near-term support
  • SUP 4: 1.3214 2.0% 10-dma envelope

USDCAD maintains a softer tone and is trading closer to this week’s low. A resumption of weakness would expose 1.3315 and 1.3302, the May 8 and Apr 14 lows and a key support zone. Clearance of these levels would strengthen bearish conditions. On the upside, initial firm resistance is at 1.3479, the 20-day EMA. A break of this level is required to ease bearish pressure.

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