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USDCAD reacting lower from resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USDCAD, Weekly In the beginning of this year I suggested that the USDCAD pair will move beyond the high of 1.2793. This resistance penetration took place in July and since then the pair has created a higher low almost at the same level. Now USDCAD has been once more facing an area that is a previous high. In the weekly picture price has bumped into resistance at higher Bollinger Bands while the ascending regression channel low wasn’t too far either. The Stochastics are almost in the overbought

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