USDCAD Weekly Analysis - June 7, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 07 June 2014 13:10 UTC
USDCAD remains in downtrend from 1.1278, the rise from 1.0813 could be treated as consolidation of the downtrend. Key resistance is at 1.1053, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0650 area. Only a break above 1.1053 resistance will indicate that the downtrend had completed at 1.0813 already, then the following upward movement could bring price to 1.1500 zone.

usdcad chart

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