Tuesday, February 16, 2010

USD/CAD Sitting at Support

 
Here is a daily chart of the USD/CAD pair showing a very important line of resistance which is now acting as support. I do not expect this line to break easily. Look for a bounce from these levels over the coming sessions and further upside from here. Some of you may even notice a possible inverted head and shoulders pattern which has formed with price now testing the neckline. Keep stops at 1.0225.

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