USD/CAD Remains In Uptrend From 1.0813
Franco Shao | May 25, 2014 10:40PM ET
USD/CAD remains in uptrend from 1.0813. The price action from 1.0926 could be treated as a consolidation of the uptrend. Near term support is at 1.0850. As long as this level holds, the uptrend could be expected to resume and the next target would be at the top of the price channel on the 4-hour chart. On the downside, a break below 1.0850 support will signal completion of the downtrend, then the following downward movement could bring the price back to the 1.0700 area.
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