USDCAD Analysis, Daily Forex Analysis, August 4th 2010

By @ibtimes on

USDCAD remains in downtrend from 1.0585 and the fall extended to as low as 1.0203. Further decline is still possible later today and next target is to test 1.0138 (Jun 21 low) support. Resistance is at 1.0272, above this level could suggest that lengthier consolidation of downtrend is underway, then further rally could be seen to 1.0300 zone.

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