USD/CAD challenges 1.3617 obstacle [Video]

Olimpiu Tuns Learn 2 Trade

The USD/CAD pair rallied in the last two hours and now is located at 1.3640 at the time of writing. Fundamentally, the greenback took the lead as the US CPI m/m, CPI y/y, and Unemployment Claims came in better than expected.

From the technical point of view, the currency pair was trapped between 1.3569 and 1.3617 levels. Now, it has jumped above the range’s resistance signaling that the correction ended. Confirming its breakout and stabilizing above this broken obstacle announces further growth.

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Olimpiu Tuns

Learn 2 Trade

Olimpiu is a seasoned Market Analyst / Trader with 11 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

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