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USDCAD moved sideways

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD moved sideways in a narrow range between 0.9743 and 0.9816. The price action in the range is treated as consolidation of uptrend from 0.9444. Further rise is still possible and next next target would be at 0.9900. Support remains at the uptrend line from 0.9513 to 0.9639, only a clear break below the trend line could indicate that lengthier consolidation of uptrend is underway, then pullback to 0.9650-0.9700 area could be seen.


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