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Whitney

06/16 21:41

FxWirePro: USD/CAD hovers near seven-month high, Outlook bullish - EconoTimes

• USD/CAD hovered near seven-month  high as oil prices fell and data showed domestic housing activity picking up.• Canadian home sales rose 5.5% in May from April, making up some ground after a slow start to the typically active spring market.•The U.S. dollar  edged lower against a basket of major currencies as investors awaited the conclusion of the Federal Reserve's policy meeting on Wednesday.•U.S. crude ⁠oil futures settled 5.8% lower at $76.05 a barrel on optimism that the deal would allow oil to flow through the Strait of Hormuz.

•  Immediate resistance is located at 1.4025 (23.6%fib), any close above will push the pair towards 1.3950(June 15th low).• Support is seen at 1.3950(June 15th low). and break below could take the pair towards 1.3900(38.2%fib).Recommendation: Good to buy around 1.3990, with stop loss of 1.3900,  and target price of 1.4080 Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle MarketsSpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 BillionStagflation Shadows: U.S. Manufacturing Shines as Services Slump to 11-Month LowScarcity and Strife: Bitcoin Hits Historic Milestone Amid Geopolitical TremorsStrategy's Multi-Billion Dollar Bitcoin Accumulation: A 2026 Milestone
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