USD/CAD Near Long-Term Lows, Targeting Further Downside
Apr. 22, 2011 11:55 AM ET
James Chen's Blog
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USD/CAD (a daily chart of which is shown) as of Friday (4/22/2011) has established yet a new 3+ year low at 0.9453 before bouncing back up above key 0.9500 support. This occurs within the context of a strong and well-formed parallel downtrend channel extending back to the October 2010 high. For more USD/CAD forex technical analysis, please click here.
James Chen, CTA, CMT
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