USDCAD broke through its key support on Thursday July 11, 2013 and failed to close above it at the end of trading on friday, July 12. If price still fails to close above this Key support zone during early trading in the new week, we then should see further selloff of this pair toward the next Key support at about 1.0167. Following this scenario, our bias shifts to bearish and attention would be more on the intraday timeframes for good price action sell setups to join the emerging bearish trend.
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