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USD/CAD: Struggle with 1.3075 extends in Asia
The US dollar is seen strolling hard to extend the recovery against its Canadian counterpart in mid-Asia, with USD/CAD unable to break above stiff resistance placed at 1.3075. USD/CAD back above 20-DMA at 1.3068 Currently, the USD/CAD pair trades +0.22% higher at 1.3072, flirting with NY tops reached at 1.3075. USD/CAD found renewed bids near 1.3040 region and re-attempted a break higher, although in vain, despite weaker oil prices and ongoing broad USD strength. Both crude benchmarks drop almost 1%, extending its profit-taking slide, while the USD index trades +0.12% higher at 95.42 levels. Markets now eagerly await ... (full story)