Technical analysis: USD/CAD approaches trendline support at 1.3460
The technical analysis indicates that the USD/CAD currency pair is approaching the trendline support level at 1.3460.The strong USD/CAD bearish reversal following the release of the ISM Services PMI extended on Thursday after another disappointing reading, this time with US Jobless claims.
The pair keeps trading within an ascending channel as prices approach the bottom of the channel at 1.3460. The Loonie would need help from a soft US NFP report to break that level and set its focus on 1.3415 ahead of 1.3360. On the upside, resistances are 1.3530 and 1.3585
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