usd-cad

USD/CAD: The market has finally managed to clear resistance by 1.0745 to expose next key topside barriers by 1.0870 further up. Daily studies still show plenty of room to run, and we look for a retest and break of 1.0870 over the coming days. Any setbacks from here should be very well propped ahead of 1.0500, and dips towards this psychological barrier should be used as a fresh buy opportunity.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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