USDCAD –Could rise from current levels

12 February 2021

USDCAD is currently trading near the multiple support zone indicating buying could emerge in the near term. After a brief downtrend since the beginning of February, the pair ended in two consecutive doji formations on 10th and 11th of February signifying that a rebound could be witnessed from current levels. It would be prudent to say that the pair could rise towards 1.2770 and 1.2810 while it sustains above 1.2630.

Prepared by
Technical Analysis Team

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