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Threats flip quickly higher

USDCAD

A very strong rally Tuesday through 1.3252 and 1.3270/71 resistances, to fully reject Monday’s selloff through the 1.3211/07 support area and a spike down to 1.3176, to resume upside pressures from the earlier November push above key 1.3240 resistance, to flip risks to the upside Wednesday.

  • We see an upside bias for 1.3294 break here aims for 1.3348 and opens risks up towards key 1.3383.
  • But below 1.3228 opens risk down to 1.3186/76.
by Steve Miley November 20, 2019
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