USD CAD tests the support 07/08/2013

Economies.com
2013-08-07 00:21AM UTC

The pair is testing the bullish channel’s support which appears in the above image, while we notice the contradiction between EMA50 positivity and Stochastic negativity, and that makes us continue in our neutral attitude for today, waiting for surpassing one of the critical levels which are represented by 1.0335 support and 1.0400 resistance.

 

Note that breaking the mentioned support will open the way for visiting mainly 1.0155, while breaching the resistance will push the price to resume the trading inside the mentioned bullish channel and the targets begin at 1.0600

 

Expected trading range for today is between: 1.0250 support and 1.0500 resistance.

 

Expected trend for today: Neutral

 

 

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