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The USDCAD is remaining within the trading range that has been established since Monday. That range has support against the 200 bar moving average on the 4 hour chart near 1.35714, and resistance against the top of the swing area up to 1.36125. Traders will be looking for a break of either of those extremes with momentum.
For now the buyers and sellers are battling it out between the two levels.
This article was written by Greg Michalowski at www.forexlive.com. Source