USD CAD reaches the target 21/02/2013

Economies.com
2013-02-21 05:38AM UTC

The pair managed to reach the waited target at 1.0185, which represents a meeting point between the correctional bearish channel resistance with 38.2% Fibonacci level which was previously broken, accompanied with Stochastic entering the overbought levels, which signals for the strength of the mentioned resistance to be waiting a bearish curve now on the intraday basis.

 

The waited decline is targeting 1.0030 followed by 0.9885, taking into consideration that breaching above 1.0185-1.0200 and holding above it will push the price for moving higher on the intraday basis.

 

Expected trading range for today is between: 1.0000 support and 1.0300 resistance.

 

Expected trend for today: Bearish

 

 

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