USDCAD near support zone

02 June 2021

USDCAD has been trading in the 1.2200-2000 range since early May and has rebounded sharply from the lower end of this range on Tuesday, ending in a “Hammer” candlestick formation indicating support at lower levels. It is likely that USDCAD could rebound towards 1.2130 and 1.2180 while it sustains above 1.2000.

Prepared by
Technical Analysis Team

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