USDCAD still seems to be going around in a 150 pip range for the whole of this week. With a lot of news being released later in the day, hopefully we should be seeing some sort of a break out. USDCAD has strong support at around 1.2350. A clean break below that would take it to 1.20.
Considering the strong support close below, i guess the likely direction would be up but it could be anything considering the news day. If it does manage to go up, then we should be looking at a target of 1.26. All these will not happen in a day but are likely to happen within 3-4 days.
It should be an interesting day.
Thursday, April 23, 2009
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