Thu, Jan 26, 2023 @ 21:48 GMT
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USD/CAD Breaks Resistance

The Canadian dollar tumbled over a deceleration in the Q3 GDP. A series of higher lows had already shown growing buying pressure. A break above 1.3570, a support-turned-resistance from a sell-off earlier this month may help the pair regain traction and extend to November’s peak of 1.3800. A close above this hurdle could pave the way for a bullish continuation above 1.4000. 1.3500 has become a fresh support in case the momentum fades. 1.3400 is the bulls’ second line of defence in case of a deeper correction.

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