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Further to prior updates tracking the price action on the USD/CAD so far this week, with only two trading days in, it has already delivered the widest range seen in the pair for a long time- since March 2020 to be precise. As you know, the high seen yesterday, 1.4793 has since given way to a low earlier today at 1.4387. The rebound from that low earlier today stalled at 1.4503 and since the last update here this morning, it has been tracking lower. However, just now it has ticked a little higher, but certainly at this stage, there is no threat to either end of that outside range seen so far today. The real question now that the 30 day extension to the Canadian tariffs by the US has certainly caught a good many traders on the wrong side of the price action, is where next?. So, does that mean we have now seen a high for the pair that may hold for quite a while? Well, potentially, yes it does. However, there is more to run on this story and probably the last thing many CAD traders want right now, is to get caught again, this time on the lower side of the price action. The USD/CAD is right now at 1.4442
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