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USDCAD Daily Analysis - October 10, 2016

Short Term Forex Analysis | by ForexCycle.com | Monday, 10 October 2016 03:19 UTC
USDCAD's upward movement from 1.3047 extended to as high as 1.3313. Support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.3400 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.3313 already, then the following downward movement could bring price back to 1.3000 zone.

usdcad chart

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