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USDCAD’s fall extended to 0.9655

Discussion in 'Technical Analysis' started by ForexCycle.com, May 31, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD’s fall from 0.9816 extended to as low as 0.9655. Deeper decline to test 0.9639 key support could be seen later today, a breakdown below this level will indicate that the uptrend from 0.9444 had completed at 0.9816 already, then the following downward move could bring price back towards 0.9444 previous low. However, as long as 0.9639 support holds, the price action from 0.9816 is treated as consolidation of uptrend, another rise towards 1.0000 is still possible after consolidation.


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