The USD/CAD has wobbled within a relatively tight range today, remaining capped by resistance around 0.9550 while limited to the downside by 0.9520. The pair currently lingers around 0.9540 as the market awaits the upcoming US ADP employment change which should give hint into Friday’s NFP results.
If the pair manages to break out to the upside, immediate resistance is listed at 0.9550 (Daily High Apr 29), 0.9553 (21-Day MA) and later 0.957 (Daily High Apr 27). Underneath, support is placed at 0.9460 (Daily Low May 3), 0.9440 (Daily Low Apr 29) and 0.9400 (Psychological Level).
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