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USDCAD D1 03 16 2020 0917

The USD/CAD pair might fall in the near term, according to our daily and weekly analysis. The RSI oscillator and the Stochastic indicator is at an overbought level, on the daily chart. According to the weekly chart, the RSI oscillator is still in overbought territory. USD/CAD has risen recently, as Bank of Canada has lowered target rate by 50 basis points on negative economic shock from coronavirus.

The most important data from this week:

March 18
Canada CPI MoM (0.3% previous)
You (2.4% previous)
March 20
Canada retail sales MoM (0.00% previous)

USDCAD W1 03 16 2020 0919

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