USD/CAD Price Analysis: Bulls eye 1.2880 but bears are lurking – by fx_ross USDCAD Technical Analysis
Bulls eye the 1.2880 area that resides in an area of the imbalance of price.
USD/CAD finds itself at a crossroads on the daily and hourly chart with a meanwhile bias to the upside on the shorter-term time frame but poised for a bearish extension on the daily chart. When taking into account that speculators’ CAD net long positions remain well below recent highs along with the recent break of daily support structure, the bias remains firmly in the hands of the bears. The daily chart's support structure near 1.
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