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USDCAD stays in the upward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 20, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCAD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.0619, the fall from 1.0794 could be treated as consolidation of the uptrend. Support is now located at the bottom of the channel, as long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.0850 area. Only a clear break below the channel support will indicate that the uptrend had completed at 1.0794 already, then deeper decline to 1.0500 could be seen.

    usdcad chart
     
  2. Fxtrader88

    Fxtrader88 New Member

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    [​IMG]

    The USDCAD confirmed again a strong closing on Friday with a positive one also in the weekly chart supporting further strength. Only a break above 1,3460 will however supporting higher levels. Resistances 1.3390 1.3435. Supports 1.3330 1.3275.
     
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