USD/CAD: a correctional move is needed before bulls are back

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It can without a doubt be inferred that the sentiment of the USD/CAD market is bullish and some correctional moves are needed before the price keeps pushing further to the upside. We will be monitoring the price action and waiting for a nice reversal pattern to be formed before aiming for a short-term SELL position. Our initial target will be set at the zone of support shown on the chart that lines up with 0.382 Fibonacci retracement level.