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USDCAD’s fall extended to 0.9749

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 21, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD’s fall from 0.9973 extended to as low as 0.9749. Deeper decline towards 0.9667 previous low is still possible in a couple of days, a breakdown below this level will indicate that the long term downtrend from 1.0851 (May 25, 2010 high) has resumed, then next target would be at 0.9500 zone. Resistance is at 0.9865, only break above this level could trigger another rise towards 1.0000.


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