USD/CAD Weekly Technical Report 11-15/2/2013
ecPulse
2013-02-11 07:18AM UTC
Linear Regression Indicators are trading positively and the pair proved its stability above 0.9965 levels, therefore we think that the upside move might extend to test 1.0120 levels. Stochastic entered overbought areas but we will ignore this signal because the pair is stable above the psychological barrier 1.0000.
The trading range for this week is between the key support at 0.9870 and the key resistance at 1.0290.
The general trend over short term basis is to the downside with daily closing belwo levels 1.0125 targeting 0.9400.
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