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- The USD/CAD continued its growth yesterday
The USD/CAD continued its growth yesterday
Yesterday, the USD/CAD traded higher and closed the day in the positive territory around the price of 1.3805. Today it rose slightly, rising to 1.3820. On the hourly chart, USD/CAD is still trading above the moving average line MA (200) H1 (1.3715). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 1.3820, 1.3835-45, 1.3900
- Support levels are at: 1.3775, 1.3755-60, 1.3735
Probably, the main scenario is continued growth to 1.3820 (session high).
The alternative scenario is consolidation below the MA 200 H1 line, followed by a decline to 1.3660 (Jul 17 low).
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