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USDCAD is testing the support of the lower border of the rising price channel

Fri, Oct 30 2009, 04:19 GMT
by Franco Shao

ForexCycle.com


USDCAD is testing the support of the lower border of the rising price channel on 4-hour chart, a clear break below the channel support will suggest that the rise from1.0206 has completed at 1.0820 level already, then the following downtrend could take price back below 1.0206 previous low. However, as long as the channel support holds, we would expect uptrend to continue and another rise towards 1.0900 is still possible.


USDCAD 4H Chart


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