On the 4 hour chart, we can see that the Kiwi is moving in a downslope channe. It failed to break through the 1.3259 level. The USD/CAD pair is under the bears' control. It may decline to 1.3150 as its first target and 1.3118 as its second target. If the pair breaks through both of these levels, it will reach the 1.3035 level. This scenario is likely to occur if the pair does not rise and close above the 1.3207 level.
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The material has been provided by InstaForex Company - www.instaforex.com
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