(0,9984) The USD/CAD confirmed last night a very weak closing even below the 200 days line, now resistance at 0,9988. While below this line on a daily closing we have to expect further weakness! The indicators of the daily chart are however still positive; those of the s/t ones are instead negative suggesting further downside pressure. The indicators of the hourly chart went oversold showing also a potential negative reversal situation. The decline confirmed our s/t target at 0,9989 where we also closed our shorts. Possible rebounds should find resistance at the 200 hours line at 1,0013. We stay on the sideline but overall expect further weakness toward 0,9930!
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Future Trend Research