There is room for a bit more retracement in USDCAD but the longer-term uptrend (the C-wave) is not yet complete, notes Moragn Stanley.
"USDCAD has now crossed through the 1.3457 high from September and has far exceeded the 61.8% retracement of the bullish leg from 1.2832 to 1.4690, MS adds.
"Technically, the current momentum suggests waiting until 1.30 to buy USDCAD again," MS advises.
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