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USD/CAD – Downtrend Nonetheless intact
On Oct 29, USD/CAD bounced from 1.3042- its lowest degree in over three months. The value rallied after then settled above 1.3100 deal with. On Friday, the pair closed within the inexperienced for the primary time in three weeks.
The Relative Energy Index (RSI) rose from 31 nevertheless, has not been in a position to cross above 50 highlighting purchaser’s lack of momentum to kick begin uptrend transfer.
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USD/CAD DAILY PRICE CHART (DEC 18, 2017 – Nov 5, 2019) Zoomed Out
USD/CAD DAILY PRICE CHART (July 15– Nov 5, 2019) Zoomed In
From the every day chart, we discover on Thursday the pair’s rally paused. On the next day, the value decliend to a decrease buying and selling zone 1.3064 – 1.3166. Due to this fact, USD/CAD may very well be on its approach for a check of the low finish of the zone.
Additional shut under…