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USD/CAD extends decline to 1.0925

FXStreet (San Francisco) - The USD/CAD is extending its rejection from 3-month highs at 1.0985 and following a 60 pip decline, the pair is now testing the 1.0925 area.

Currently, USD/CAD is trading at 1.0930, down -0.28% on the day, having posted a daily high at 1.0988 and low at 1.0926. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

USD/CAD levels

Below the 1.0925, the USD/CAD would face supports at 1.0900 and 1.0875. On the upside, resistances are at 1.0985, 1.1000 and 1.1050.

USD/CAD forecast change - UBS

The UBS analyst team argue that with the rebound of the US economy and the continued Bank of Canada dovishness, they’ve lost the confidence that the CAD can be even stronger than the USD and revised their forecasts.
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AUD/USD recovers the tone and tests daily highs around 0.9330

After a brief rejection at 0.9330, the AUD/USD traded down to price at 0.9315 where the pair found new buying interest and now it is testing back highs.
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