1. Pair seems to have a hard time rallying.
2. Although many banks have advocated a buy on this pair, and that recent data from Canada seems pretty bad, technically it seems pretty bearish to us.
3. We suggest that the pair might see a drop to 1.00300 first, before further rallies.
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1. Pair's momentum is pretty much to the downside, possibly more to come as depicted distinctively by MACD crossover.
2. We're not too sure how this will play out to be; but we feel its a medium term downtrend but long term uptrend.
3. We suggest a play by ear, buying supports at 1.01600 and 1.00600 if you bullish. Exercise caution.
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