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USD/CAD still contemplating 1.3600

Much earlier today the USD/CAD did finally manage to vault the 1.36 handle, but it was by no means a very convincing move. The high was at 1.3608 and it has edged back below 1.36 since. The rhetoric from the Bank of Canada was mixed yesterday and by no means certain of which way the Bank will go next time around. That said, there is no reason to see the CAD outperform the dollar in a relative way given that both Central Banks are now in the wait and see mode. Technically speaking, above 1.3579 (current 100 day moving average) there is room for another push on the topside. Lower oil prices should support such a move too, but right at this very moment, there is not much immediate demand it seems to see that play out in a hurry The USD/CAD is currently trading at 1.3594

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