USD/CAD Price Analysis: Bulls not giving up at 1.3400

 

Renewing selling pressure is applied to USD/CAD, which is also impacted by other variables. A rise in oil prices supports the Canadian dollar and puts pressure on it amid general USD weakness.

Before making strong directional wagers, use care due to the conflicting technical signs.

On Tuesday, the USD/CAD pair encounters new supply and continues the previous day’s fall from close to the psychological level of 1.3500, or over a one-week high. The pair has been trading in the round number of 1.3400, just a few pips above the daily low, and has remained down throughout the early North American session.

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