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EURUSD
USD/CAD
USD/CAD Price Forecast: Remains broadly sideways below 1.3800
Key Takeaways (30s Read)
USD/CAD remains broadly sideways below 1.3800.
The USD/CAD pair is trading higher around 1.3790 in the early European trading session on Friday, rebounding slightly after being impacted by softer US Consumer Price Index data for November. The current price remains below the key psychological level of 1.3800. A clear breakout above this level could lead to further gains, but until then, the market appears to lack direction, potentially slipping back into the previous range if 1.3800 holds firm.
AI Analyst
AI Opinion
"The movements in USD/CAD reflect the impact of the recently released US CPI data, indicating instability in the dollar. Investors will pay close attention to future central bank policies and economic indicators. Specifically, 1.3800 is a crucial resistance level from a technical standpoint, and whether it can be breached will be key to signaling a trend shift. Since the pair is also influenced by dollar movements, monitoring upcoming economic data releases will be essential."
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