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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/CAD: Support at 0.9983 Has Been Broken

USD/CAD has broken the supports implied by the low of its short-term rising channel and by 0.9983 (09/11/2012 low). Monitor the support at 0.9947 (08/11/2012 low). An hourly resistance can be found at 0.9992 (intraday high).

The underlying trend is negative (see mediumterm declining channel in the daily time frame). Therefore, we see the rise from 0.9633 as a countertrend move. A medium-term resistance is at 1.0250 (12/07/2012 high, see also declining trendline on a daily chart).

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