USDCAD: The pair continues to hold on to its upside pressure leaving risk higher. Resistance stands at the 1.2900 level where a break will aim at the 1.2950 level. Further out, resistance comes in at the 1.3000 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.3050 level. Its daily RSI is bullish and pointing higher suggesting more Conversely, support lies at the 1.2800 level where a violation will target the 1.2750 level. Further down, support resides at the 1.2700 level and then the 1.2650 level. All in all, USDCAD looks to extend its downside pressure in the medium term.
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