USDCAD rebound tests key resistance zone ...Middle East

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Momentum carried the pair up to test the 100-hour moving average and the 50% retracement of the June decline, both converging between 1.36599 and 1.3668 with the high at 1.3665. This dual technical confluence is acting as initial resistance, and so far, sellers are leaning against the zone.

Key levels to watch:

Support: 1.36337–1.3650 (swing zone),

Bias: Bullish above 1.3650, with key hurdle at the resistance confluence

This article was written by Greg Michalowski at www.forexlive.com.

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