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USDCAD continues its downward move

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 4, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD continues its downward move from 1.0372 and the fall extended to as low as 1.0009 level. Resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend is expected to continue and one more fall towards 0.9979 previous low support is still possible, only a clear break above the trend line resistance could indicate that a cycle bottom is being formed.


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