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Instrument: USDCAD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1.25468 with take profit at 1.25020.
Bullish Preference:
Buy is envisaged if price trades above 1.26104 with take profit at 1.26440.
Fundamentals:
4:00pm USD Fed Chair Powell Testifies
Comment: The Loonie has seen steady gains on the buck as the efficacy of the vaccines improves the hopes of lifting the lock down in major cities seem certain, this has given rise to an increase in demand for energy products there by increasing energy prices. Canada being an oil producing nation has benefited from the rise in that price.
Analysis: SCRUM Team
