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Buy Latentinterest Order: 1.2862
The USD/CAD pair surged through the psychological 1.3000 handle today and the rally surpassed the late March high at 1.3046. The bulls reached daily high at 1.3066 but retreated to currently trade at 1.3010 however adding 100 around pips for the day. A daily close above the late March’s high at 1.3046 will vring additional stength for bulls to test the 38.2% Fibonacci retracement of the 2017 bearish run at 1.3127. On the other hand the profit-taking provoked by the lastest rally might lead USD/CAD lower. In case of closing below 1.3000 barrier, which is providing first support now, deeper decline is extected towards 1.2910 – the 50% of above mentioned Fibo.