September 2, 2010 11:48 AM
USD/CAD Settles Above Support
By James Chen
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USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/02/2010) has settled above 1.0470 support once again after having just descended from a key resistance re-test in the 1.0670 price region, which formed a double-top high. This all occurs within the context of a short-term parallel uptrend channel extending from the early August low. For more USD/CAD forex technical analysis, please click here.
James Chen, CTA, CMT
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