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March 24th, 2009, 3:10 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDCAD is testing the support of 1.2191, below this level will signal deeper decline to 1.2000 zone. Initial resistance is at the upper border of the price channel on 4-hour chart, above the channel resistance will indicate that a short term cycle bottom has be formed and then rebound towards 1.2700 could be seen.

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

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