Home  Long Term Forex Analysis USDCAD Analysis - Jul 30, 2008
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USDCAD Analysis - Jul 30, 2008 |
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Written by ForexCycle.com
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Tuesday, 29 July 2008 |
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USDCAD breaks above 1.0238 resistance. Further rise towards the long term key resistance at 1.0378 (Jan 22 high) is now in favor. Initial support is at 1.0150 and key support is at 0.9974, only fall below 0.9974 level will take price back to 0.9900 area.
For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0322, a break of this level will confirm the cycle bottom.
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