Home  Long Term Forex Analysis USDCAD Analysis - Jul 9, 2008
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USDCAD Analysis - Jul 9, 2008 |
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Written by ForexCycle.com
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Tuesday, 08 July 2008 |
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USDCAD traded in range between 1.0048 and 1.0322. Another fall below 1.0048 would more likely be seen to complete the consolidation. However, a break above 1.0322 will signal resumption of long term up trend.
For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0326, a break of this level will confirm the cycle bottom.
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