Forex technical analysis: USDCAD corrects 50% of the day’s range.




USD purchase using the reboundThe USDCAD fell after the better than expected Canadian employment data (35.3 K vs 15K and full-time employment prospects), and the lowest income in the united states. However, the rebound in the dollar, as the morning of the negotiation is progressing has led to a rebound in USDCAD.

Looking at the 5 minute chart above, the pair has corrected to the 50% of the trading day to 1.27747 level. That tends to be a key level after movement. Stay below, the sellers remain in control. Go to the top sellers and give up.
We test that 50% now.



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