Canadian Dollar Trying to Rebound

01/28/2009 1:00 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The Canadian dollar futures are trying to turn higher from multi-year weekly support in the .78-.80 area. A break of the short-term downtrend in the .8460 area should signal a rally to the strong resistance in the .90-.92 area. An increase in volume is needed to confirm a stronger rally.

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