USD/CAD Hits Long-Term Uptrend Support Line

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USD/CAD Hits Long-Term Uptrend Support Line

By James Chen on May 29, 2009 | More Posts By James Chen | Author's Website

Substantially dollar-weakening price action on USD/CAD, a daily chart of which is shown, has hit and slightly broken below a long-term uptrend support line extending from a major low back in November 2007. Further follow-through on the break should target key support in the 1.0800 price region.

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