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USDCAD Rising Wedge - USDCAD is.......>

DOLLAR-CANADA
DOLLAR-CANADA: USDCAD Rising Wedge
- USDCAD is forming a rising wedge, which is a bearish reversal pattern.
- Commodity tied FX has improved with firmer oil prices on extended react to
yesterday's Mnuchin 'removing steel and aluminium tariff' comments.
- A break of 1.3374 is required for confirmation, opening the 38.2% retracement
of the Jan - Apr rise & 100-dma at 1.3348/39.
- CAD crosses are also reaching some pivotal levels. EURCAD closed below the 100
& 200-dma yesterday with focus on the 1.4980/00 area which has registered a
series of previous lows.
- AUDCAD cleared 0.9300 for the first time since the Jan 3 flash crash lows.
- The recent bearish MA crossover (50-dma below 100-dma) in NZDCAD has formed
double-bottom support at 0.8793/98.
https://emedia.marketnews.com/marketnewsintl/USDCAD.png

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