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USDCAD consolidates in a narrow range above 1.0594

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 5, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    After a sharp drop from 1.0852, USDCAD consolidates in a narrow range above 1.0594. Another fall is expected after consolidation and next target could be at 1.0400 area. Resistance level is now at 1.0735, and key resistance is located at 1.0852, only rise above this level will indicate that the uptrend from 1.0206 has resumed, then another rise towards 1.1000 could be seen to follow.

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