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Instrument: USDCAD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1.27301 with take profit at 1.26968.
Bullish Preference:
Buy is envisaged if price trades above 1.28199 with take profit at 1.28560.
Fundamentals:
USD Final Manufacturing PMI
USD ISM Manufacturing PMI
USD ISM Manufacturing Prices
CAD Manufacturing PMI
Comment: Technically, on the D1 we see that the 50 EMA is serving as a resistant for the loonie, the uncertainty in the US markets have diminished the dollar value as the loonie is gaining steam on the buck. We expect that if prices break the 50 EMA, we should expect the bulls to enter the market.
Analysis: SCRUM Team
