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The pair is seen within a 1.2820-1.3050 range in the short-term horizon, noted FX Strategists at Scotiabank.

Key Quotes

USDCAD struggled to extend much beyond 1.2980 resistance on Thursday and subsequent congestion has centered around 1.2950″.

“Daily momentum signals are neutral and DMI’s are muted/trendless. The weekly chart is showing a doji (uncertainty) just below the 100 week MA (1.2976)”.

“We await a break of this week’s wide range roughly bound between 1.2820 and 1.3050″.