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USDCAD is facing 1.0286 key support

Discussion in 'Technical Analysis' started by ForexCycle.com, May 30, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD is facing 1.0286 key support, a breakdown below this level will indicate that the uptrend from 1.0013 had completed at 1.0420 already, then the following downward movement could bring price back to 1.0100 zone. On the upside, as long as 1.0286 support holds, the price action from 1.0420 could be treated as consolidation of the uptrend from 1.0013, one more rise to 1.0500 area to compete the upward movement is still possible.


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