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USDCAD Weekly Analysis - October 26, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 26 October 2014 04:07 UTC
USDCAD remains in uptrend from 1.0619, the fall from 1.1385 is likely consolidation of the uptrend. Support is located at the bottom of the price channel on daily chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.1500 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.1385 already, then the following downward movement could bring price back to 1.0700 area.

usdcad chart

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