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USD/CAD Under Immense Selling Pressure

USD/CAD dropped much below the 1.2400 psychological level and could resume the downside movement. You can see that is pressuring some support level, a valid breakdown will confirm a further drop in the upcoming period.

The major downside target stands at the lower median line (LML) of the major descending pitchfork, only a failure to reach it will signal a reversal.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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