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USD/CAD remains bearish for a move towards 1.1195 – UOB

The Research Team at UOB see the USD/CAD pair heading downwards towards the 1.1122 support.

Key Quotes

“With Weekly indicators at overbought levels, a break below this level could lead to a deeper down-move towards the major support at 1.1122 (low in late October as well as rising trend-line). Only a move above 1.1400/05 would suggest that the bearish USD view is wrong.”

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