January 11 2022
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USDCAD Broke support at 1.2700/1.2690 post NFP and slightly exceeded our downside target of 1.2620
The recovery from yesterdays lows, should see the US Dollar stall at 1.2690/1.2700 resistance, and then dip towards 1.2640 and 1.2610 in extension.
However, a break above 1.2700 would target 1.2740.
The AUD made a decent recovery from 0.7140 but is struggling to overcome resistance at 0.7200. If it can break the resistance, you will get a run at 0.7240.
Failure to clear 0.7200 resistance will allow for a drop back to the support level of 0.7140 and possibly 0.7100 in extension.
The Kiwi is going nowhere fast. While 0.6800 continues to keep a lid on proceeding the downside risk remains for a break of 0.6740/30 support and open up a test below 0.6700
If we do make it above 0.6800, there will be another run at 0.6860 resistance.
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