The recent USDCAD pullback is considered corrective and a bullish theme dominates. The recent break of 1.2203, May 6 high confirmed a S/T reversal and the pair has also cleared the 50-day EMA, reinforcing bullish conditions. Attention is on 1.2501, a Fibonacci retracement. A break would open 1.2653, Apr 21 high and an important resistance. Initial support is seen at 1.2253, Jun 23 low. Note the 50-day EMA at 1.2262 also marks support.

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Taso Anastasiou

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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