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Wednesday, February 15, 2012

USD/CAD Climbs Above Parity; 1.0070 is the Next Key Pivot

The USD/CAD has been trading in sideways action since breaking above a declining trendline. But after a ABC (3-wave)bear run that failed to push below the 0.9925 support area, the USD/CAD rebounded and climbed back above parity. The RSI also pushed above 70 showing bullish momentum. What are the next key resistance levels to watch for?
(BY Sir Yang)

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