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The USDCAD moved lower during yesterdays session and has now closed below a key support area. Price closing below this area is a significant event for traders to take note of.
Price now has a much clearer path down to the next support area, rather than back through the resistance that is over head. If price does move higher traders could look for potential bearish Price Action to get short at resistance.
Major support for this pair comes in around 1.0500.
USDCAD DAILY CHART
USDCAD 4HR CHART
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