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Forex: USD/CAD 1.0187 and is recovering ground

FXstreet.com (London) - There were talks of corporate offers at 1.0200/20 that capped the rally at the highs of this week yesterday before the drift lower in yesterday’s sessions.

Funds has risen from the lows and base of the cup formation on the hourly charts from 1.0150 support and printing 1.0194 below the figure in the European session. The indictors are slightly bullish ahead of tomorrow’s important CPI data and with Carney gone the market may be looking to this figure for a decisive direction one way or the other, especially if the number comes in weaker. For now, eyes are on today’s US data set (Claims/CPI/Philly) and Fed speakers (Rosengren/Raskin/Williams) with Canadian BoC review comes out at 15.30 BST. Resistance is 1.0200 and supported 1.0150.

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