USD/CAD retraces back to 1.31 pre US unemployment claims
|The USDCAD bounced back from the December 2019 lows on Monday and has rallied 180 pips in a pullback move to retest the previous lows.
This level confluences with the 50% retracement of the previous bearish move, a retest of the current bearish structure and the psychological resistance at 1.3100.
If this level holds and the previous lows break, which would mean a break of the continuation pattern, we could see the USDCAD retest the lows around the 1.2940
Heads up to US CPI numbers and unemployment claims later today.
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