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6 Aug 2013
USD/CAD at the crossroads
FXstreet.com (New York) - The USD/CAD foreign exchange rate has regained the 1.0370 region Tuesday, despite a recent stumble that was developing during the latter stages of US trading.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD touched around resistance near 1.0385 earlier today, though it has yet to stabilize above that resistance represented in 38.2% correction for the bearish possibility to remain valid today. By examining the stochastic, we find that the negative possibility is available amid a negative signal currently showing on the stochastic. Linear Regression Indicator 55 also represents a good resistance for the pair.”
USD/CAD technical levels
Technically speaking, the USD/CAD remains propped up in positive territory, up +0.13% as it is now trading at 1.0372. Should the pair sail higher, resistances will hold the USD/CAD in check at 1.0377, onto 1.0403, and 1.0445, notes the Danske Research Team.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD touched around resistance near 1.0385 earlier today, though it has yet to stabilize above that resistance represented in 38.2% correction for the bearish possibility to remain valid today. By examining the stochastic, we find that the negative possibility is available amid a negative signal currently showing on the stochastic. Linear Regression Indicator 55 also represents a good resistance for the pair.”
USD/CAD technical levels
Technically speaking, the USD/CAD remains propped up in positive territory, up +0.13% as it is now trading at 1.0372. Should the pair sail higher, resistances will hold the USD/CAD in check at 1.0377, onto 1.0403, and 1.0445, notes the Danske Research Team.