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USDCAD Firms As S&P 500 Enters Bear Market Territory

CANADA
  • USDCAD moves back near session highs of 1.2852 on the latest pop lower in equities.
  • It unwinds some of the short-term bearish tone which had seen recent attention on support levels.
  • Focus temporarily shifts back to resistance, currently seen at 1.2896 (May 18 high) which would then open the high 1.29s, but in broader terms the pair has only really levelled off after the 2% dip from May 12 with the fade in USD strength.

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