Canadian Dollar Breaks Out, New Zealand Dollar Maintains Trend

As the Canadian dollar breaks out of the upward trending channel carried over from the end of April, the exchange rate looks poised to push lower in the days ahead, especially as the DailyFX Speculative Sentiment index stands in positive territory. At the same time, the rebound in the New Zealand dollar may gather pace over the near-term as it maintains the upward trend from back in March.

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