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USDCAD: Play the Levels!

Reading price action, we can see USDCAD has been making a series of higher highs and lows. Price created a double bottom at 1.27500 key psychological and reacted however we failed to clear 1.28500. soon after price aggressively snapped back to 1.27500. If price breaks below, we will be looking for shorts down to 1.27000. If price manages to hold look for longs back to 1.28500. Due to the uncertainty of market fluidity, risk management is highly recommended.


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