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USD/CAD trades above 1.35 today

Yesterday afternoon the USD/CAD fell below 1.34 once more. Prior to that it had been trading at above 1.3460 and as noted at the time, it had just edged above its 200 day moving average, then at 1.3463. Well, that moving average is still in place at 1.3463. The low seen around the time of the 4pm London fix was set at 1.3396. However, the jump back in the US dollar, coupled with a fall back in oil prices sent the USD/CAD back above that 200 day moving average into the close. The USD/CAD rose to as high as 1.3477 and later closed in the US at 1.3462. That close was amazingly still below its 200 day moving average, which was a surprise really. That said, the further fall in oil this morning has seen the USD/CAD trade above 1.35 today. The high seen so far has been set at 1.3501. It is not much below that high right now as the US dollar rebound continues. It is just now at 1.3495

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