Though the dollar was dropping across the market, the currency was able to hold its own against the loonie. The drop in USDCAD made for a low around 1.0067 – close to the triangle limit Jamie has held with over the past week; but not close enough to put it in jeopardy just yet. The pair has already bounced from its lows and the week looks to end well with the technical formation. Next week may be a different story however, and we will need to see how this congestive price action plays out.
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STRATEGY: Bullish, against .1.0047, target above 1.0324
Al Bawaba
