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Instrument: USDCAD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.36017 with take profit at 1.36176.
Bearish Preference:
A sell position is envisaged if the price trades below 1.35804 with take profit at 1.35688.
Fundamentals:
None with High Impact
Comment:
Provided that CAD is a petrochemical currency, Oil prices dropped on Monday, paring back earlier gains, as optimism over the debt ceiling agreement was tempered by renewed expectations that the Federal Reserve will carry on with its long-running campaign of interest rate hikes.
Analysis: SCRUM Team
