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Daily Video: USD/CAD—Losing Some Steam Below the 1.27 Pivot

ForexMarketz April 14, 2015 Market Analysis Video Leave a comment 767 Views

The USD/CAD continues to wander in the same trading range below the key 1.28 pivot. A daily close below the congestion area 1.2380 to 1.2447 will challenge the next technical support at 1.2207/08. Should the USD break above 1.27, actually we have a small resistance near 1.2634 first, then we test the next key pivot at 1.28.

Price action is too narrow at this time to justify a long USD (short CAD) or long CAD (short USD) trade at this time. For now I am sitting on the sidelines monitoring my charts for a more actionable trade setup to present itself.

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