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USDCAD Weekly Analysis – August 6, 2017

USDCAD is facing the resistance of the bearish trend line on its daily chart. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at around 1.2280. On the upside, a clear break above the trend line resistance could take price to 1.2740 area.

USDCAD daily chart

Author ForexCycle.comPosted on August 6, 2017Categories Long Term Forex AnalysisTags USDCAD

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