» » Without a catalyst, USDCAD potentially sideways between 1.3230-1.3255

Without a catalyst, USDCAD potentially sideways between 1.3230-1.3255

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Analysis and Technicals
Monday, August 31, 2015
Referring to the 4-hour chart, the bias tends to neutral with a range of potential trading range between 1.3230-0.3255 (MA-21). It takes a clear break above 1.3255 area to push back the bullish movement in the price of testing the 1.3285 or even 1.3320 area.

On the reverse side, a break back below 1.3230 area would put the price back under bearish pressure towards 1.3195 area before retesting 1.3165 area.

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