Watch for short-term bounce before next USDCAD selloff

Several factors will influence the USDCAD, including crude oil prices, the guessing game about the Fed's monetary policy intentions, and the impending Canadian election. A medium term Wave 4/ is underway in the USDCAD. There is a risk of a short term correction. Resistance lies at 1.3080, 1.3140 and 1.3240/1.3270. There is support at 1.2960 and 1.2900

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