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    Technical analysis for the USDCAD on 07.07.2015

    The USDCAD has breached resistance at 1.2630

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 100 pips Max. 1.2750

    Min. 1.2460

    usdcad3

    The Canadian dollar keeps it steady uptrend. Yesterday the price broke the last week’s high at 1.2630 resistance.

    Level 1.2630 is now acting as a strong support. Corrective pullback towards this barrier will most likely trigger consolidation, followed by the rebound up.

    Potential growth targets are situated at 1.2700, 1.2750, 1.2800.

    Alternative scenario: the breakout of 1.2630 support will allow the bears to correct the price down towards 1.2560.

    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 has breached resistance at 1.2630

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 100 pips Max. 1.2750

    Min. 1.2460

    usdcad3

    The Canadian dollar keeps it steady uptrend. Yesterday the price broke the last week’s high at 1.2630 resistance.

    Level 1.2630 is now acting as a strong support. Corrective pullback towards this barrier will most likely trigger consolidation, followed by the rebound up.

    Potential growth targets are situated at 1.2700, 1.2750, 1.2800.

    Alternative scenario: the breakout of 1.2630 support will allow the bears to correct the price down towards 1.2560.

    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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