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Daily Market Analysis 02/11/2021: USDCAD

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Instrument: USDCAD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.24085 with take profit at 1.24198.
Bearish Preference: 
Sell position is envisaged if price trades below 1.23709 with take profit at 1.23575.
Fundamentals:
No major fundamental

Comment: USD/CAD licks the week-start wounds near 1.2375 amid a quiet Asian session on Tuesday. The Loonie pair benefited from the broad US dollar weakness the previous day before the latest shift in the risk appetite questioned the recovery move.

Analysis: SCRUM Team

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