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WTI Oil price fell further on Friday, remaining on track for the third consecutive weekly loss and the second straight weekly close below $60 mark. Oil remains under pressure from darkened demand outlook, with the latest forecast from International Energy Agency about growing supply surplus, news about potential meeting between US and Russian Presidents, and […]
The post WTI Oil: Bears May Take a Breather to Position for Fresh Push Lower appeared first on Action Forex.
The USDCAD technical picture remains largely unchanged. On Monday, the pair pushed above the 38.2% retracement of the 2025 trading range and also broke above a key swing area between 1.40106 and 1.40268. Since then, the price has held above that zone, keeping buyers in control of the short-term bias.
However, upside momentum has been capped, with the Tuesday high at 1.40798 marking the current ceiling. Stronger resistance lies ahead between 1.4149 and 1.4183, an area that also includes the 50% midpoint of the 2025 range.
For now, the market is in a tug-of-war between buyers defending support and sellers leaning on resistance. A break below 1.4010 would likely disappoint buyers and shift short-term control back to the sellers. Conversely, a move above 1.40798 could unlock fresh upside momentum and target the next resistance cluster near 1.4150–1.4183.
This article was written by Greg Michalowski at investinglive.com.
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