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USD/CAD steams ahead to 1.0317/20

FXstreet.com (Barcelona) - A typically quiet USD/CAD has rocketed higher Tuesday during European trading, having rebounded off session lows of 1.0273 and regaining the 1.0300 level.

At the time of writing, the pair has is now trading at session highs in the region of 1.0317/20, up a robust +0.39%. Given this ascension, Mataf.net analysts calculate resistive measures for the USD/CAD at 1.0347, onto 1.0417, and ultimately 1.0459. On the pullback, a break below the 1.0235 handle will initiate supports at 1.0193 and 1.0123.

“The USD/CAD rebounded to the upside during last Friday’s trading session and benefited from stabilizing above Linear Regression Indicators and 1.0270 levels. Meanwhile, prolonged stability above 1.0270 forces us to hold on to our positive expectations, whereas stability above it might extend bullishness in an attempt to breach 1.0430 levels eyeing key resistance of the ascending channel.” Suggests the Technical Analyst Team at ICN.com.

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