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USD/CAD Analysis: Likely To Maintain Trendline

The price movement of the US Dollar against the Canadian Dollar was guided by an ascending trendline. The currency pair tested the lower boundary of the trendline during the end of yesterday’s session.

Everything being equal, it is likely that the Greenback maintains the uptrend line today. The short-term target for bullish traders will be near a significant resistance level at 1.3419.

Moreover, the 50-, 100-, and 200-hour simple moving averages are below the current price level.

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