USD/CAD Prior Analysis: Bears taking on bullish commitments near 1.3450 key area USDCAD Technical Analysis
, that the price was embarking on a correction but 1.3450 had to give out first:
At this juncture, it is a matter of wait-and-see, but the bias is bullish while above the old resistance:The price is forming an M-formation on the 4-hour chart. The pattern is a reversion set-up for the sessions ahead where the price would be expected to move back into the bearish impulse and target the neckline near 1.3490. However, the downside may not have been concluded as of yet, although there is a current deceleration near 1.3450 and a 38.
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