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USD/CAD Soars To New 11-Year High On Crude Oil Lows

Discussion in 'Technical Analysis' started by Kaitlin, Dec 9, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    USD/CAD surged sharply on Tuesday for the second consecutive day this week, hitting its upside target at 1.3600 and establishing a new 11-year high. This high occurred just as crude oil (West Texas Intermediate) hit its own 6-year low below $37 a barrel, placing considerable pressure on the oil-linked Canadian dollar.[​IMG]

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