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USD/CAD hovering over 1.1400

FXStreet (Edinburgh) - The greenback is now looking to stabilize vs. the CAD, with USD/CAD gyrating around 1.1400 the figure.

USD/CAD in multi-year highs

The Canadian dollar continues to trade on the offered side during the first half of the week. Positive reading from September’s trade surplus in the Canadian economy did nothing to allay the bearish pressure stemming from the recent dovish appreciations by BoC’s S.Poloz and the current drop of the WTI to levels around $76.30/bbl, last seen in October 2011. In the view of Shaun Osborne, Chief FX Strategist at TD Securities, “short-term and daily charts continue to look bullish. Medium term, the charts suggest 1.18 is reachable over the next few months”.

USD/CAD levels to consider

As of writing the pair is advancing 0.37% at 1.1400 and a surpass of 1.1446 (pivot point Nov.4) would open the door to 1.1497 (day uptrend channel) and then 1.1500 (psychological level). On the other side, the immediate support lines up at 1.1340 (low Nov.4) followed by 1.1271 (Tenkan Sen) and finally 1.1264 (low Nov.3).

GBP/JPY taking a breather on the bulls journey up to R2

GBP/JPY is trading at 181.59, down -0.09% on the day, having posted a daily high at 182.18 and low at 181.13.
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EUR/CHF reaches 23-month lows

EUR/CHF broke below 1.2050 and dropped to 1.2042, reaching the lowest price since November 2012. The pair remains near the lows consolidating modest losses but relatively important that could lead to the lowest daily close in almost two years.
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