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Well Odds are in favor of bulls and intraday bias remains bullish on pair as long as 145.00 levels remain intact. A bullish crossover on MACD indicator is favoring the bulls and providing trend reversal signal for the time being and RSI is also providing bullish signal from above 50 territory. The short term to intermediate term trend is still down and presently we are receiving trend reversal si
However, yesterday's data from Canada showed that the activity in the manufacturing sector expanded at its fastest pace since Markit started publishing the PMI data back in 2011 and helped the CAD remain resilient against its American counterpart.
The recent candle is bullish marabuzo candlestick pattern which indicates that pair will move up. The way bears are reacting it seems like they are approaching the 107.50 level in short term.however, some correction can’t not be ruled out but that should be taken as buying opporutnity.

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