Despite the short-term bullish outlook, USDCAD dropped further Tuesday, taking out initial support at 1.3143, which undermines the recent recovery. The bear trigger at 1.3099 rests as next support which, if broken, would open a more protracted move lower. To the upside, a clear breach of the 50 EMA at 1.3260 would strengthen a bullish case.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Bullet Foreign Exchange Technical Analysis Markets Foreign Exchange News

Edward Hardy

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Bullet Foreign Exchange Technical Analysis Markets Foreign Exchange News

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