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USD/CAD December 19 2013 Resumes Broader Upside

USD/CAD: With USD/CAD rallying to resume its broader upside, further strength is likely in the days ahead.

Further out, resistance resides at the 1.0750 level. Above here if seen will aim at the 1.0800 level. Its daily RSI is bullish and pointing higher suggesting further upside.

On the other hand, support lies at the 1.0700 level where a violation will aim at the 1.0650 level where a violation will aim at the 1.0600 level. A reversal of roles is likely to occur here and turn USD/CAD higher but if that fails, further decline could occur towards the 1.0550 level with a break turning attention to the 1.0500 level..

All in all, USDCAD continues to face further upside threats.

Guest post by  FX Tech Strategy

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FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.