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Thursday, July 20, 2017

USD/CAD: Will USD/CAD Make a New High?

USD/CAD has been showing a bearish trend since the last three months. And seems like the pair will keep moving bearish for some time.

USD/CAD will try to enter the yellow zone as shown in the following picture. 

Today we are expecting to exit the market at around 1.26061. 1.26401 will be Resistance Level for today. The market will try to keep the pair moving below the level.

Shall USD/CAD breaks below 1.26061 then there is a chance for the pair to reach 1.25847. However, once the pair reached 1.264041, then bearish scenario will be canceled for today.

In this case, we will try to exit the market with minimum loss.