USD/CAD Technical Analysis for July 8, 2011

The USD/CAD pair validated the shooting star at the 0.9650 mark on Thursday, falling down below the 0.96 handle and testing a minor support area. While it did bounce a little in late trading, the truth is that the bigger picture shows the 0.9650 area as support turned resistance. Because of this, we are still bearish of this pair.

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Forex Mansion