1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCAD moved sideways between 1.0910 and 1.1224

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 12, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD moved sideways in a trading range between 1.0910 and 1.1224. Support is at 1.0955, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0182 (Sept 19, 2013 low), one more rise to 1.1500 area is still possible after consolidation. Resistance is at 1.1192, a break above this level will signal resumption of the uptrend. However, a breakdown below 1.0955 support will indicate that the uptrend from 1.0182 had completed at 1.1224 already, then the following downward movement could bring price back to 1.0700 zone.


    Daily Forex Analysis

Share This Page