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USDCAD continues its sideways movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 26, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD continues its sideways movement in a range between 0.9836 and 1.0033. As long as 1.0033 key resistance holds, the price action in the range is treated as consolidation of downtrend, and another fall towards 0.9600 is still possible. However, a break above 1.0033 will indicate that lengthier consolidation of downtrend is underway, then further rally could be seen to 1.0100-1.0200 area.


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