USDCAD ended in a long legged doji on 4th March after testing 1.2580 level which is a strong support zone for the currency pair, this suggests accumulation at lower levels. RSI is flat suggesting the downtrend is losing steam; higher timeframe charts also support the above observation. It is likely that USDCAD could rebound towards 1.2685 and 1.2740 while it sustains above 1.2590.
Technical Analysis Team
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