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EURCAD recently reversed up from the support area located between the pivotal support level 1.54000 (which formed the daily Hammer in July), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse (1) from June. Given the strengthening bullish euro sentiment seen across the FX markets today, EURCAD is likely to rise further toward the next resistance level 1.55400 (former support from the middle of September)
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