Although the USD Index invalidated the earlier breakdown under the lower border of the declining trend channel and broke above the upper line of different formation, we didn’t notice a sharp upward move in the following days. This show of weakness brought dark clouds over the U.S. currency in recent days. Will rain fall from them and take the greenback to March lows?

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Monday’s session was very good for the sellers. Although their opponents took USD/CAD higher, the previously-broken support/resistance line stopped them, triggering a sharp pullback and making currency bears more profitable. Is the worst already behind currency bulls?

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Earlier today, currency bears invalidated the breakout above the first resistance line once again. What impact could this development have on their opponents?

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Although currency bulls had some problems with the previously-broken lower border of the trend channel in recent days, they finally came back above this line, invalidating earlier breakdown. How positive effects can it bring in the coming days?

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Although currency bulls thought that the worst is behind them, their opponents attacked, invalidating yesterday’s breakout above the first resistance earlier today. Will this show of weakness take the exchange rate to the recent lows once again?

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