USD/CAD as of Tuesday (3/16/2010) afternoon New York session continues its bearish stretch towards its downside parity (1.0000) target, having just established a new 19-month low in the process. Parity has not been reached since July 2008. Currently, after having broken below key support around 1.0200, this broken support level should now serve as tentative resistance within the context of the continuing downtrend in the pair.
- James Chen, CTA, CMT
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