Tuesday, December 22, 2009

USDCAD launch new test

USDCAD is testing key resistance of 1.0748, a break above this level will indicate that a cycle bottom has been formed at 1.0405 level on daily chart, then a sharp move towards 1.1000 could be seen to follow. However, as long as 1.0748 level holds, we'd expected downtrend to resume and another fall below 1.0206 is still possible.

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