USDCAD: Prices Drifting to Support Near Parity
USDCAD is drifting lower toward support in the 1.0051-1.0101 area. Current positioning doesn’t offer an actionable trade setup and we will stand aside for now. Near-term resistance lines up at 1.0265, the upper boundary of a falling channel set from the June 1 swing high.
Daily Chart - Created Using FXCM Marketscope 2.0
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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