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USDCAD: under pressure before publication of labor market statistics for Canada

Sell on a level breakthrough of 1.3095 with 1.3025 target. Stop loss = 1.3150.

Reason for the trading strategy

Today, the labor market data in Canada will be published. In July, employment is expected to grow by 5.3 thousand and the unemployment rate is expected to maintain at 6.8%. Against the backdrop of rising oil prices, the neutral and positive statistics is likely to support the Loonie.



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