CitiFX Technical Strategy Research notes that USD/CAD is hovering around short-term support at 1.3589.

If the pair manages to clear this level and closes below it on a daily basis, this would trigger a bearish signal, Citi argues.

“Should we see a close below there, which is our bias, it would then open the way for a large correction down to supports around the 1.3210-1.3230 area where pivotal levels from earlier this year converge with the trend line across the lows,” Citi adds.

USD/CAD is trading circa 1.3590 as of writing.

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  • Website Helper

    I don’t see any reason why price should be any higher than 1.36. Over priced.