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USDCAD is facing bearish pressure

USDCAD is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance and 23.6% fibonacci retracement where we could see a further drop below this level. Our 20 EMA is showing signs of bearish pressure as well, in line with our bearish bias.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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