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USDCAD remains in uptrend from 1.0414

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 8, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCAD remains in uptrend from 1.0414, the fall from 1.0707 is likely consolidation of the uptrend. Key support is at 1.0622, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.1000 is still possible. On the downside, a breakdown below 1.0622 will indicate that the upward movement from 1.0414 had completed at 1.0707 already, then the following downward movement could bring price back to 1.0500 zone.

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