Canada GDP better than expected. USDCAD falls through support.

The USDCAD comes in at +5.0% for the 4th quarter higher than the 4.2% expectations. This has sent the USDCAD lower. The price has broken through the 100 and 200 hour MA and tests the 61.8 % of the Feb 22nd low tot he Feb 25th low. at the 1.0486 level. A move below would next target key support at the 1.0405-15 level.
Upside resistance comes in at the 200 hour MA at the 1.0494 level and then at the 1.0517-1.0523 level.





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