USD/CAD Daily Outlook

[Forex-Outlook]

USD/CAD drops sharply to as low as 1.0260 so far today and is now pressing mentioned 1.0280 near term support level. Intraday bias is turned neutral first. On the upside, firm break of 1.0469 minor resistance will suggest that pull back from 1.0734 is finished after hitting mentioned 1.0260 support. Intraday bias will then be flipped back to the upside for 1.0734 resistance and then 1.0779 key level. Nevertheless, sustained break of 1.0280 will dampen the immediate bullish case and turn focus back to 0.9929 low.

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