The USDCAD is back to unchanged on the day after correcting higher from yesterday's decline

The USDCAD came under heavy selling pressure yesterday after U.S. CPI data came in much weaker than expected, triggering a decisive technical breakdown. The pair fell below the key support zone between 1.4125 and 1.4143, moved well beneath the 100-hour moving average, and broke an upward-sloping trendline that had guided the rally since May 1. One of the mo…

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