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27 Dec 2019
USD/CAD Technical Analysis: Loonie is strengthening as USD/CAD heads to 1.30 psychological support
- USD/CAD has lost 0.18% today as oil markets push higher.
- The price is now headed toward the 1.30 support zone below.
USD/CAD Daily Chart
The price of USD/CAD has pushed lower as oil continues to rise and risk sentiment stalls in thin maket conditions.
1.30 is the next support on the downside after a period of long-term sideways action.
The price has cleared both moving averages on the downside.
The RSI indicator has not reached oversold levels signalling there is more space for a move lower.
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