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USDCAD pulled back from 1.0673

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 1, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    Being contained by 1.0678 resistance, USDCAD pulled back from 1.0673, suggesting that a cycle top is being formed on 4-hour chart. Minor consolidation in a range between 1.0540 and 1.0678 would more likely be seen in a couple of days. Support is at the lower border of the price channel, as long as the channel support holds, one more rise towards 1.0852 previous high is still possible.

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