The USD/CAD pair attracts some dip-buyers following the previous day's modest slide and sticks to its positive bias around the 1.3825 region through the first half of the European session on Wednesday.
USD/CAD ticks higher amid an extension of the recent USD rally to a nearly three-month top. Bets for a larger BoC rate cut, softer Oil prices undermine the Loonie and also lend support. The technical setup favors bullish traders and supports prospects for further near-term gains. The USD/CAD pair attracts some dip-buyers following the previous day's modest slide and sticks to its positive bias around the 1.3825 region through the first half of the European session on Wednesday.
That said, it will still be prudent to wait for a move beyond the monthly high, around the 1.3850 area, before positioning for further gains. The subsequent move-up has the potential to lift spot prices beyond the 1.3875 intermediate hurdle, towards reclaiming the 1.3900 mark. The USD/CAD pair could eventually aim to challenge its highest level since October 2022, around the 1.3945 region touched last month. On the flip side, the 1.
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