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USDCAD breaks below 1.1984

Tue, Jan 6 2009, 02:10 GMT
by Franco Shao

ForexCycle.com


USDCAD breaks below 1.1984 and reaches as low as 1.1866 level. Further fall is still possible to test 1.1820 previous low support, below this level will signal deeper decline towards 1.1600 zone. Initial resistance is located at 1.2000, as long as this level holds, we’d expect downtrend to continue.


USDCAD 4H Chart


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