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USDCAD Price Breaches the Resistance – Forecast for June 27, 2024

USDCAD Price Analysis

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Expected Scenario

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The USDCAD price showed clear positive movement yesterday, breaching the $1.3690 resistance level and settling above it. This move halts the correctional bearish scenario and aims to regain the main bullish trend. The price is now targeting gains expected to start at $1.3770 and extend to $1.3845.

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Therefore, a bullish bias is expected for today. However, if the price breaks below $1.3690 again, it will reactivate the correctional bearish wave with the next target at $1.3590.

Expected Trading Range

  • Support: $1.3650
  • Resistance: $1.3780

Trend Forecast: Bullish

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