USD/CAD Bouncing Lower

USD/CAD has bounced back after the pair reached hourly support at 1.2356 (05/01/2018 high). Expected to show renewed short-term weakness.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

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