Oil growth will whet bears' appetite for USD/CAD

17 November 2022 104
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Previously, we released several forecasts for oil growth from the current levels. A potential oil rebound may give rise to further Canadian dollar strengthening.

 

The technical support level up until which it may decline is 1.31. The upward trend and a 200-day moving average are close to the level and the bulls are likely to try to take over the initiative from them.

This content is for informational purposes only and is not intended to be investing advice.

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