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USD/CAD hovering around final corrective target level

I mentioned earlier this morning, that the wider dollar was still under pressure heading into Christmas and that was also covered by gains in the AUD and the CAD. Well, the USD/CAD has been hit more on the downside since my last update, noted the fall below 1.34. That fall has extended to below 1.33 since then and delivered a drop to a low at 1.3276 late yesterday evening. The US dollar is not far above that low now, after setting a US close last night at 1.3283. That close was right on a Fibonacci support level and the last of any corrective downside targets. That covers the entire move, from the July low at 1.3093, to the November high, at 1.3899. The range seen so far today has been covered by 1.3277 to 1.3293. It is coincidentally, currently trading at 1.3283 
 

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