USD/CAD turned positive in the last few days of 2023, after having been losing 7 cents for two months as the USD crashed on a policy reversal by the FED, which signaled the start of rate cuts in the coming months. This pair gained more than 3 cents in the last three weeks, however, as markets reconsidered the odds of the FED cuts and the price pierced above the 200 SMA (purple) on the daily chart, which has been acting as support and resistance before, but buyers gave up in the last few days and the price has reversed back down.
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