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USDCAD’s upward movement extends to 1.0293

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 17, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCAD’s upward movement from 1.0083 extends to as high as 1.0293. Further rise to test 1.0341 resistance would likely be seen, a break above this level will indicate that the longer term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then further rise to 1.0500 area could be seen to follow. On the downside, as long as 1.0341 resistance holds, the rise from 1.0083 would possibly be correction of the downtrend from 1.0341, another fall towards 1.0000 is still possible after correction.

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