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USDCAD failed to break above 1.0676

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 26, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD failed to break above 1.0676 (Jul 6 high) resistance and formed a cycle top at 1.0666. Pullback towards 1.0400 area would more likely be seen in next several days. As long as 1.2400 support holds, the fall from 1.0666 could be treated as consolidation of uptrend from 1.0107, one more rise to 1.0750 is still possible, however, below 1.0400 will indicate that the rise from 1.0107 has completed at 1.0666 already, then deeper decline could be seen to 1.0200 zone.


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