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USDCAD Rejects Higher Prices, Prints Negative Candle

USDCAD: With USDCAD turning off its intra day high at 1.3416 level to close lower on Thursday, further downside pressure is likely. While the 1.3416 level caps, our view on the pair remains lower. Resistance resides at the 1.3400 level where a break will target the 1.3450 level. Further out, resistance comes in at the 1.3500 level where a turn lower may occur.

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