USDCAD Weekly Analysis - May 10, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 10 May 2014 15:00 UTC
USDCAD broke below 1.0857 support and reached as low as 1.0813. However, lengthier consolidation of the downtrend from 1.1278 is possible next week, and one more rise to the top of the price channel on daily chart to complete the consolidation would likely be seen. Support is now at 1.0800, only break below the is level will signal resumption of the downtrend, then next target would be at 1.0650 area.

usdcad chart

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