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USDCAD broke below 0.9743 support

Discussion in 'Technical Analysis' started by ForexCycle.com, May 30, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD broke below 0.9743 support, suggesting that a cycle top had been formed at 0.9816 on 4-hour chart, and lengthier consolidation of uptrend from 0.9444 is underway. Further fall is expected later today, and target would be at 0.9650-0.9700 area. Resistance is at 0.9816, only break above this level could signal resumption of uptrend.


    Forex Analysis

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