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Euro Forecast: EUR/USD Price Outlook Still Positive, Reaching for 1.22
2021-05-09 00:00:00
Monthly Forex Seasonality - May 2021: Sell in May and Go Away? Not for USD, Stocks
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Crude Oil Forecast: Oil Prices Edge Lower Toward Trend Support
2021-05-08 15:30:00
Oil Price Rally Vulnerable Amid Failure to Test March High
2021-05-06 14:30:00
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USDCAD: Prices Drifting to Support Near Parity

USDCAD: Prices Drifting to Support Near Parity

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

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.

USDCAD_Prices_Drifting_to_Support_Near_Parity_body_Picture_5.png, USDCAD: Prices Drifting to Support Near Parity

Daily Chart - Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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