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USDCAD rebounded from 0.9463

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 28, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being supported by 0.9453 previous low, USDCAD rebounded from 0.9463, suggesting that lengthier consolidation in a range between 0.9453 and 0.9575 is underway, and another rise to 0.9650 to reach next cycle top on 4-hour chart is still possible. Key support is at 0.9453, a break below this level will indicate that the downtrend from 0.9973 has resumed, then further decline could be seen to 0.9300-0.9400 area.


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