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USDCAD: Triggers Corrective Pullback.
USDCAD: With USDCAD triggering a corrective pullback, it now faces further downside pressure in the days ahead. On the downside, support lies at the 1.2500 level followed by the 1.2450 level. Further out, support resides at the 1.2400 level and then the 1.2350 level. Its daily RSI has turned lower supporting its corrective view. On the upside, resistance is seen at the 1.2600 level followed by the 1.2650 level. Further out, resistance comes in at the 1.2700 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.2750 level. All in all, USDCAD continues to face bullish offensive medium term but now faces a correction lower.