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USDCAD retraces higher towards 6-month high
video USDCAD had been in a steady advance since late September, posting a fresh six-month high of 1.3784 on October 5. Although the pair corrected to the downside, it quickly found its feet and recouped some losses, while both the RSI and MACD are endorsing this rebound as they are deep in their positive zones. Should buying interest persist, the pair could re-test the recent rejection region of 1.3784, which is a six-month high. A break above that zone could open the door for the March resistance of 1.3803. Even higher, the 2023 peak of 1.3860 may curb further advances. Alternatively, if the pair corrects to the ... (full story)