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USD/CAD Elliott Wave Analysis
Although the greenback has rebounded again after holding above support at 1.3264 and further consolidation would be seen, as long as resistance at 1.3456-60 holds, prospect of another retreat remains, below 1.3375 would bring weakness to 1.3300 but break of said support at 1.3264 is needed to retain bearishness and add credence to our view that a temporary top has been formed at 1.3535 last month, bring correction of recent upmove to previous resistance at 1.3210-12 (now support). Only below this level would suggest the rebound from 1.2969 has ended and prolong choppy trading, bring weakness to 1.3100 but downside ... (full story)
