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On the daily timeframe, USDCAD is seen still well below the kumo after experiencing a significant drop, reaching a price of 1.34429 back in August. However, the pair is now showing good signs of bullish momentum, with the chart slowly moving up towards the kumo cloud. Although volatility is still a factor to watch, the bullish momentum seems strong enough to push the pair higher. The stochastic indicator shows the pair hovering around the 50 level, indicating that the trend could still continue, although traders should be wary of sudden changes in direction.
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