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- RES 4: 1.2916 1.382 proj of Jun 1 - 21- 23 price swing
- RES 3: 1.2881 High Jan 28
- RES 2: 1.2807/46 High Jul 19 / 1.236 proj of Jun 1 - 21- 23 swing
- RES 1: 1.2730 High Jul 20
- PRICE: 1.2536 @ 19:50 BST Jul 28
- SUP 1: 1.2525 Low Jul 28
- SUP 2: 1.2502/2428 Low Jul 15 / Low Jul 14
- SUP 3: 1.2303/2253 Low Jul 6 / Low Jun 23 and a key support
- SUP 4: 1.2157 Low Jun 16
Despite the strong move lower on the Fed rate decision, the USDCAD outlook remains bullish and the recent pullback is considered corrective. On Jul 16, resistance at 1.2590, Jul 8 high was cleared. This confirmed a resumption of the uptrend from Jun 1. Moving average conditions are in a bull mode too and this reinforces the current trend direction. Attention is on the 1.2846 Fibonacci projection and 1.2881, Jan 28 high. Support to watch is at 1.2502.