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USDCAD - Free Forex Market Analysis

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Sunday, December 30, 2007 at 10:15 GMT

No changed in our view, USDCAD formed a cycle top at 1.0248 on daily chart. Further pullback towards 0.9500 area to reach the next cycle bottom on daily chart is still in favor. Key resistance is at 1.0248, only break of this level will signal the resumption of the up trend. For long term analysis, the pair formed a long term cycle bottom at 0.9056 on weekly chart. Consolidation in a range between 0.9056 and 1.0750 can be seen in the next several months.

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