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FBS: USD/CAD prospects

USD/CAD remains under a slight bearish pressure since the end of October, after having reached the top of the July-October bearish channel.

There is some support for the pair in the 1.0400/1.0380 area (100- and 55-day MAs, Ichimkoku, middle daily Bollinger). Break below 1.0380 would be a good selling opportunity with a target of 1.0280 and a stop at 1.0420.

On the other hand, rise above 1.0455 would be a buying signal, confirming a “bullish flag” formation. 

Chart. Daily USD/CAD


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