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Chart of the Day
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Chart of the Day – USD/CAD
Tue, Jun 30 2009, 15:31 GMT
by James Chen
6/30/2009 – USD/CAD – Price action on USD/CAD, a daily chart of which is shown, has tentatively poked out above a key downtrend resistance line extending from the fourth test of the 1.30 price region back in March. This tentative break places the current downtrend in potential jeopardy, as this trendline has helped define a strong downtrend for more than three months. With any substantial follow-through on this potential bullish breakout, the next major resistance target to the upside resides around the key 1.1800 price region. In the event of a false break scenario, where price retreats back below the trendline, strong support continues to reside in the 1.450 price region.
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Published on Tue, Jun 30 2009, 15:33 GMT
Archive
- Chart of the Day – Gold
Published On Wed, Nov 4 2009, 16:31 GMT - Chart of the Day – EUR/USD
Published On Tue, Nov 3 2009, 16:05 GMT - Chart of the Day – AUD/USD
Published On Mon, Nov 2 2009, 15:50 GMT - Chart of the Day – EUR/USD
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