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USD/CAD hits fresh lows under 1.0950

FXStreet (Córdoba) - The USD/CAD continued to pull back after reaching on Asian hours at 1.0996 the strongest level since late April and recently printed a fresh daily low at 1.0947. The rally from 1.0620 (July lows) continues to face resistance between 1.0985 and the 1.1000 levels

After peaking near 1.1000 the USD/CAD moved all day with a downside bias and currently trades near the lows, around 1.0950, down 0.30% for the day so far.

The USD/CAD was unaffected by US economic data. The next report from Canada will be next Thursday with the current account numbers from the second quarter while on Friday the GDP report for June will be release and it could impact on the Loonie.

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