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 Technical Analysis for CAD

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fxpulsation



Posts : 8759
Join date : 2012-01-25

PostSubject: Technical Analysis for CAD   Thu Mar 06, 2014 10:31 am



Technical Analysis for CAD

USDCAD moved lower yesterday, breaking 1.1050 initial support level, and that indicates further correctional bias is likely, where we continue to target the 50-days SMA around 1.0970. Price may find intraday resistance now at the broken 1.1050 support level.

Support: 1.1025, 1.0980, 1.0950, 1.0920, 1.0880
Resistance: 1.1050, 1.1090, 1.1120, 1.1150, 1.1175

Recommendation Short below 1.1055, targets at 1.0985 and 1.0950. Stop loss above 1.1100.
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