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USDCAD: Strengthens, Eyes Further Upside

USDCAD: With EUR seen strengthening, more bullishness is likely as it eyes further upside. Its now eyes the 1.2300 level. On the upside, resistance is seen at the 1.2350 level followed by the 1.2400 level. Further out, resistance comes in at the 1.2450 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.2500 level. On the downside, support lies at the 1.2250 level followed by the 1.2200 level. Further down, support resides at the 1.2150 level and then the 1.2100 level All in all, USDCAD remains biased to the upside medium term.
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