Tuesday’s higher-than-expected US inflation print led to a surge in the US dollar. IG analyst, Axel Rudolph would like to go long USD/CAD as it broke through some major resistance and is expected to rise towards its November peak. A stop loss can be placed at $1.3355 with a profit target of around $1.3845.
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IG is a global leader in online trading, providing fast and flexible access to over 17,000 financial markets – including CFDs on indices, shares, forex, and commodities.
The IG Group head office in London was established in 1974, and we aim to become the default choice for active traders globally.
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