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USDCAD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 3, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD stays above a upward trend line on 4-hour chart, and remains in uptrend, the fall from 1.0341 is likely consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.0400 area. On the downside, a clear break below the trend line support will suggest that lengthier consolidation of the uptrend from 0.9932 is underway, then deeper decline to 1.0225 area could be seen.


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