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USDCAD is in uptrend form 1.0333

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 7, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD is in uptrend form 1.0333, and the fall form 1.0678 is treated as correction of uptrend. Key support is now at 1.0515, as long as this level holds, uptrend could be expected to continue and one more rise to 1.0750-1.0800 area is still possible. However, a breakdown below 1.0515 will indicate that a cycle top has been formed on 4-hour chart and the bounce from 1.0333 has completed at 1.0678 already, then another fall to 1.0100 area could be seen.


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