USDCAD might be forming a short term cycle bottom |
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USDCAD might be forming a short term cycle bottom at 1.0562 on 4-hour chart. Key resistance is located at 1.0727 previous high, a break above this level will confirm the cycle bottom. As long as 1.0562 level holds, we’d expect sideways consolidation in a couple of days and further rise towards 1.1000 is still possible after consolidation.
Filed under: Technical
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