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USDCAD Loses Upside Momentum, Eyes Bear Pressure

With USDCAD seen taking back its intra day gains during Monday trading session, risk of more weakness is now envisaged.

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USDCAD Loses Upside Momentum, Eyes Bear Pressure

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  1. Gives You A Trading Decision Edge FXTechstrategyForex Technical Strategy Monday 31 AUG’15 • USDCAD Loses Upside Momentum, Eyes Bear Pressure Highlights: Commodity Technical Research www.fxtechstrategy.com www.fxtechstrategy.com

  2. FXTechstrategyForex Technical Strategy EURUSD USDCAD: With USDCAD seen taking back its intra day gains during Monday trading session, risk of more weakness is now envisaged. Resistance resides at the 1.3212 level where a break will target the 1.3250 level. Further out, resistance comes in at the 1.3300 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.3350 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the downside, support lies at the 1.3150 level followed by the 1.3000 level. Further down, support resides at the 1.2950 level and then the 1.2900 level. All in all, USDCAD remains biased to the downside below its key support at 1.3352 level. F www.fxtechstrategy.com

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  4. FXTechstrategyFXT Technical Strategist Plus Disclaimer This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer f www.fxtechstrategy.com

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