USD/CAD maintains the lateral channel

After the USD/CAD pair updated a low of 1.3300-1.3270, which was caused by the publication of inflation data in Canada, it rebounded from the lower boundary of the three-week side channel and formed a “pin bar” indicating a potential for growth.

The resumption of growth of the USD/CAD pair is expected after breaking through the resistance zone 1.3340-50. Support and reversal zone is located at the levels: 1.3320 and 1.3300, the breaking of which downward cancels expectations for growth. Resistance marks are: 1.3380 and 1.3400.

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Hanzenko Anton

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