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USDCAD Analysis: Supported By Weekly And Monthly PPs

No significant changes occurred to the US Dollar against the Canadian Dollar on Monday. The currency pair was trading sideways during the previous session.

The USD/CAD exchange rate is presently trading near a support cluster formed by the weekly and the monthly PPs at 1.2786. This support level could push the rate towards the 200-hour simple moving average at 1.2938 within this session.

However, a resistance line formed by the weekly pivot point at 1.2849 and the 50-hour SMA at 1.2857 could hinder the currency exchange rate from reaching its target today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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