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USDCAD Analysis

Daily Market Analysis 11.05.2022: USDCAD

Instrument: USDCAD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.29871 with take profit at 1.30021
Bearish Preference: 
Sell position is envisaged if price trades below 1.29492 with take profit at 1.29380
Fundamentals:
1:30pm     USD    CPI m/m                          
                  USD    Core CPI m/m

Comment: 
The U.S. dollar edged lower in early European trade Wednesday, but remains near a two-decade high ahead of the release of key inflation data which could influence Federal Reserve thinking.

Analysis: SCRUM Team

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