2 Jul 2013
USD/CAD drifting higher
FXstreet.com (New York) - The USD/CAD foreign exchange rate reversed an earlier trend during US trading, which now has the pair thrusting upwards again.
USD/CAD held above support
In these moments, the USD/CAD is advancing at a robust +0.49%, settling at 1.0549. According to Gareth Berry, a Research Analyst at UBS, “In terms of the USD/CAD, resistance focus is at 1.0556 ahead of 1.0658. Support at 1.0396 should hold for now, indicating a bullish outlook.”
USD/CAD negative expectations looming
“The USD/CAD is moving above 1.0530 threatening our negative expectations, as stability above this level with four-hour closing might fail the possibility of a bearish correction. In case of achieving a closing above 1.0530, our expectations will turn positive.” notes the ICN.com Technical Analyst Team.
USD/CAD held above support
In these moments, the USD/CAD is advancing at a robust +0.49%, settling at 1.0549. According to Gareth Berry, a Research Analyst at UBS, “In terms of the USD/CAD, resistance focus is at 1.0556 ahead of 1.0658. Support at 1.0396 should hold for now, indicating a bullish outlook.”
USD/CAD negative expectations looming
“The USD/CAD is moving above 1.0530 threatening our negative expectations, as stability above this level with four-hour closing might fail the possibility of a bearish correction. In case of achieving a closing above 1.0530, our expectations will turn positive.” notes the ICN.com Technical Analyst Team.