On the USDCAD chart, we can see that the instrument is testing the strong upside support 1.3050-1.3100 zone. This upside support zone needs to hold for the upside continuation. In the case of a daily close below this level we could see a deeper pullback into the 1.2950-1.3000 zone.
Note: look for the long trade entries in case of a daily bullish price action with the stop loss below the 0.9930 level.
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