USD/CAD Hits New Long-Term Low
USD/CAD (a daily chart of which is shown) as of Monday (5/02/2011) has established yet a new long-term 3+ year low at 0.9445 before rebounding back up to re-test prior support in the 0.9500 price region. This occurs within the context of strong bearish environment within a longstanding overall downtrend. For D/CAD forex technical analysis, please click here.James Chen, CTA, CMT
Similar Posts:
- EUR/USD Stalls Below Key 1.4500 Resistance
- EUR/CHF Leaning Toward Bearish Trend Continuation
- AUD/USD Corrects Within Steep Uptrend
- GBP/USD Leans Toward Further Overall Decline Despite Rebound
- Daily Forex Analysis – July 2, 2010
