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USD/CAD – Heading For a Correction?
The dollar has been in a long term downtrend against the loonie but that may be about to change. The greenback came back into favour on Friday after a period of softness which saw it fall to its lowest level against its Canadian counterpart for around three years. Rising oil prices can often be supportive for the Canadian dollar and likely contributed to its success over the last four months. But with the oil rally running on fumes ahead of the OPEC+ meeting, that may be about to change. chart A break above here would be a bullish signal and could set the pair up for a run at 1.30, which would be a big test. A ... (full story)
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