USD/CAD: 55 Moving Average acted as support

USD/CAD: 55 Moving Average acted as support

Information is not investment advice

The 55 Moving Average has acted as support, so there's a 'Hammer' pattern, which led to the current upward price movement. In this case, we should watch the nearest resistance at 1.3519 as the next bullish target. The subsequent pullback from this level could be a starting point for a decline towards the previously tested support at 1.1349 and the Moving Averages.

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