Break below support of 86.00
Reference my chart analysis for the Canadian dollar published on December 15, 2014:
Will the Canadian Dollar test $0.8400 by year-end? Maybe!
Reference my chart analysis for the Canadian dollar published March 21, 2014:
Reference the last chart analysis for the Canadian dollar posted on December 8, 2013 when it was testing support of $0.9400. This level is now major resistance and the downtrend continues for the dollar. The current support level is now around $0.8900 and there is a high probability this level could be broken. On the long-term chart (not shown) there are support levels at $0.8600 and $0.8400. Yes, there is a high probability we could see the Canadian dollar test the $0.8400 level before the end of the year.
“Always trade in the direction of the major trend”
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