USD/CAD has rebounded

USD/CAD has rebounded

Information is not investment advice

USD/CAD has been trading sideways between 1.3510 and 1.3367 for the past month. Yesterday it made a sharp rebound from the bottom of this range and now may test its top. An advance above 1.3367 (March high) will open the way up to the 1.3500/10 area. The long-term trend remains bullish.

The US dollar is helped by the demand for it as a safe haven and the lack, while the Canadian dollar is pressured by the declining oil prices after another weekly increase in the US crude stockpiles.  

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XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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