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April 28th, 2010, 3:48 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDCAD bounces sharply to the upper boundary of the falling price channel on 4-hour chart. Further rally to test 1.0215 key resistance is still possible later today, a break above this level will indicate that the longer term downtrend from 1.0779 (Feb 5 high) has completed at 0.9930 already, then the following uptrend could take price back to1.0500 area.

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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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