Technicals: USDCAD Finds Possible Resistance

Resistance: 1.0600
Support: 1.0450
After a short lived rebound by the USDCAD, the pair came into contact with a key Fibonacci level and headed back down. The 50 percent Fibonacci level may be acting as the new resistance for the pair. Watch for price action to test the Fibonacci level at 1.0600 to further establish it as a resistance.

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