USD/CAD rose after initially falling through the 0.98 handle. This pair is currently trying to decide if it wants to continue lower and follow the previous breakdown, or if it is a "false breakout" and it wants to reenter the consolidation from the last 1.5 years.
The EUR/USD pair fell on Friday in order to finish the week off with a whimper. However, the 1.2750 level below looks like it could be supportive, and as a result we feel the downside at this point is probably somewhat limited.
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