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- The USD/CAD remains above MA 200 H1
The USD/CAD remains above MA 200 H1
Yesterday, USD/CAD traded higher and closed the day in the positive territory near 1.3605. Today it traded in the range of 1.3600-45, remaining near yesterday's closing price. On the hourly chart, USD/CAD is still trading above the MA (200) H1 moving average line (1.3580). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at: 1.3645, 1.3660, 1.3685
- Support levels are at: 1.3575, 1.3540, 1.3520
Probably, the main scenario is continued growth to 1.3645 (session high).
The alternative scenario is consolidation above the MA 200 H1 line, followed by a decline to 1.3540 (Sep 18 low).
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