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USD/CAD met resistance in the 1.3490 area (resistance line connecting April and May highs). It fell to the middle of the trading range where it has spent the past month. On H4 and H1, we see a “triple top” between 1.3455 and 1.3490, the break to the downside, and a small consolidation. Oscillators are bearish, so it looks like the pair wants to continue the downside in the short term. The target is just above the 50-day MA at 1.3390.
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
