USD/CAD Weekly Technical Report 19-23/8/2013
ecPulse
2013-08-19 07:30AM UTC
The pair is still sharply fluctuating as it is stable between Linear Regression Indicators and is trading around 23.6% correction at 1.0330. Sideways trading forces us to remain neutral in our weekly report waiting fornew confirmation signals. On the long term, the upside move is valid by trading within the ascending channel as shown on graph.
The trading range for this week is between the key support at 1.0135 and the key resistance at 1.0530.
The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
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