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USDCAD stays in a trading range between 1.9977 and 1.0104

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 12, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCAD stays in a trading range between 1.9977 and 1.0104. Lengthier sideways movement in the range is still possible later today. However, the price action in the trading range is more likely consolidation of downtrend from 1.0302, as long as 1.0104 resistance holds, another fall towards 0.9900 is still possible after consolidation, and a breakdown below 0.9977 could signal resumption of downtrend.

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