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USDCAD moves sideways between 1.0203 and 1.0293

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 22, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    USDCAD moves sideways in a range between 1.0203 and 1.0293. Key support is at 1.0203, as long as this level holds, the price action in the trading range could be treated as consolidation of the uptrend from 1.0083, one more rise to test 1.0341 resistance is still possible. On the downside, a breakdown below 1.0203 will indicate that the upward movement from 1.0083 had completed at 1.0293 already, then the following downward movement could bring price back to 1.0000 zone.


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