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USDCAD pulled back from 1.0819 level

Discussion in 'Commodity vs Dollar' started by ForexCycle.com, Sep 13, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    As expected, USDCAD pulled back from 1.0819 level. Further fall could be seen to 1.0500 zone in a couple of days. As long as 1.0410 support holds, we'd expect up trend to resume, and rise towards 1.1200 could be seen after consolidation.

    For long term analysis, USDCAD is in bullish movement. Further rise towards 1.1400 to reach the next cycle top on monthly chart is now in favor.

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