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USDCAD steps back higher and tests the earlier high for the day

November 13, 2020 by admin 0 Comments

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Tests the high at 1.3170 level

The USDCAD has completed the down and up lap in trading today. The Asian session high reached just short of 1.3170. The rotation lower stalled near a swing area betweein 1.3108 to 1.3115 and bounced back higher. The high just reached 1.3172 completing the lap (with a few pips to spare).

Crude oil is lower which helping to weaken the pair. The CAD is also now the weakest of the major currencies for the day. The range for the day at 56 pips is still low compared to the 22-day average (about a month of trading) of 97 pips. That is par for the course of the other pairs vs the USD today, however.

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