USDCAD Daily Analysis (Nov 1)

USDCAD Daily Analysis (Nov 1)

USDCAD Chart

First retest to the broken support area (shaded) was rejected. The price continues to hold below the falling trend line and the 200-days simple moving average. While we may see further sideways action, the upside should be limited to areas near the 200-days simple moving below 1.2500. To the downside, 1.2250 is the next potential target.

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