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Technical analysis for the USDCAD on 25.06.2015

The USDCAD broke and held above strong resistance of 1.2355

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 1.2555

Min. 1.2300

usdcad9

The CAD strengthened its uptrend yesterday by breaking strong resistance at 1.2355.

Level 1.2355 is currently acting as strong support, towards which the price is expected to pullback any time soon. The re-test of the 1.2355 mark will most likely trigger the rebound up.

Potential growth targets are situated at 1.2425, 1.2500, 1.2555 resistance levels.

Alternative scenario: long consolidation above the strong support of 1.2355.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The USDCAD broke and held above strong resistance of 1.2355

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 1.2555

Min. 1.2300

usdcad9

The CAD strengthened its uptrend yesterday by breaking strong resistance at 1.2355.

Level 1.2355 is currently acting as strong support, towards which the price is expected to pullback any time soon. The re-test of the 1.2355 mark will most likely trigger the rebound up.

Potential growth targets are situated at 1.2425, 1.2500, 1.2555 resistance levels.

Alternative scenario: long consolidation above the strong support of 1.2355.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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