(1,0277) The USD/CAD is overall still confirming further consolidation interior the negative day reversal with 1,0355 – 1,0250 still the levels, despite an undershooting on Friday of the 1,0240 level. At this point only a daily closing below 1,0235 will support a deeper correction. The indicators of the daily chart are still well positive but also still overbought; bearish divergences confirm however a positive tone. Those of the weekly one are also positive while showing potential negative reversals!! The indicators of the s/t charts are below the line this morning suggesting some consolidation/ correction. Only an hourly closing below 1,0235 will support lower levels. We stay on the sideline still waiting for stronger signals!!
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