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USDCAD’s fall extended to 0.9683

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD’s fall from 0.9973 extended to as low as 0.9683. The pair is now facing 0.9667 support, a break below this level will indicate that the longer term downtrend from 1.0672 (Aug 31, 2010 high) has resumed, then next target would be at 0.9500 zone. Resistance is at 0.9750, above this level will suggest that lengthier consolidation of downtrend is underway, then bounce to 0.9900 area could be seen.


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