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  • RES 4: 1.3430 50-day EMA
  • RES 3: 1.3384 High Jun 12
  • RES 2: 1.3343 20-day EMA
  • RES 1: 1.3270 High Jun 20
  • PRICE: 1.3157 @ 08:11 BST Jun 22
  • SUP 1: 1.3139 Low Sep 14 2022
  • SUP 2: 1.2992 50.0% retracement of the Jun - Oct 2022 bull rally
  • SUP 3: 1.2954 Low Sep 13 2022
  • SUP 4: 1.2895 Low Aug 25

USDCAD traded lower yesterday to confirm a resumption of the downtrend. This strengthens bearish conditions and maintains the price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position, highlighting current sentiment. Scope is seen for a move towards 1.2992, a Fibonacci retracement. On the upside, firm resistance is seen at 1.3343, the 20-day EMA.

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