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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: Moving Higher

USD/CAD has rebounded after testing the 200 day moving average. The break of the resistance at 1.0358 favours a second leg higher towards the resistance at 1.0436. An initial support can now be found at 1.0353 (intraday low). Another support stands at 1.0275 (30/09/2013 low)

In the longer term, the key resistance at 1.0870 (02/11/2009 high and the long-term declining trendline from the October 2002 peak) is expected to cap the medium-term upside potential. Furthermore, a decisive break of the support area between 1.0246 (31/07/2013 low) and the long-term rising trendline (around 1.0200) would deteriorate the long-term technical structure.

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