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December 12, 2011

USD/CAD in a Bullish Slingshot; 1.0350 is Key Resistance

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The USD/CAD showed an impressive bounce last week from just above 1.0050, and is extending the rally to open the current one. The 1H chart shows a market firmly developing bullish momentum, as the RSI reading has broken above 70 and has remained above 40 after a throwback. Now it is breaking back... FF News: Technical

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