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USDCAD moves down toward a key support target

May 5, 2023 by admin 0 Comments

The USDCAD is moving closer to its 200 day moving average at 1.3440 after a couple days of steady selling in the pair. Higher oil prices have contributed to the Canadian dollars strength. The price of oil intraday yesterday reached a low of $63.70 yesterday. It is trading above $71 today.

Will buyers come in against the 200 day moving average?

This article was originally published by Forexlive.com. Read the original article here.