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[QUOTE="Mikhail Kurakin, post: 197224, member: 2368"] USD/CAD: the instrument is renewing the highs since the end of April Current trend Today, during the Asian session, the USD/CAD pair grows steadily, renewing the local highs of April 22. Yesterday, the instrument showed ambiguous dynamics, which was caused by the publication of the latest minutes of the US Federal Reserve meeting. As expected, they reflected its wait-and-see stance on reductions in existing incentives. Also, the regulator expects a gradual return of inflation to the target level of 2%. Positive macroeconomic statistics from Canada put additional pressure on the rate. Thus, the Ivey business activity index for June rose from 64.7 to 71.9 points, which was better than the average forecasts of analysts. On Thursday, traders will focus on US statistics on the dynamics of initial and continuing jobless claims. Key data from Canada is due on Friday when the June labor market report will be released. Analysts' forecasts for Canadian statistics are very optimistic. Support and resistance On the daily chart, Bollinger bands grow moderately. The price range expands but not as fast as the “bullish” sentiment develops at the moment. MACD grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic also maintains a strong upward trend but is close to its highs, signaling that USD is overbought in the short term. The current readings of technical indicators do not contradict the further development of bullish dynamics in the nearest time intervals. Resistance levels: 1.2554, 1.2600, 1.2650. Support levels: 1.2500, 1.2448, 1.2400, 1.2352. [img]https://media.clawshorns.com/uploads/files/3ff3f66ce4b036ca7cfcead4df1e87f7.png[/img] [img]https://media.clawshorns.com/uploads/files/4d7efa3a60b1deb03c092ac0eecab2c5.png[/img] [/QUOTE]
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