USD/CAD Technical Analysis for April 19, 2011

The USD/CAD pair spiked today, but fell again as the 0.97 level showed how strong of a resistance area it really is. Because of the massive downtrend, we have been telling you this is a “sell on the rallies” type of pair, and as such – you would have done quite well today. Until we break the 0.97 level on a daily close – selling is the only way to go here.

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