USD/CAD Weekly Technical Report 22-26/7/2013
ecPulse
2013-07-22 08:21AM UTC
The pair is still trading negatively within the normal bearish correction in the ascending channel. The downside move might extend this week especially that the pair is stable below 1.0430 and Linear Regression Indicators tends to be negative. Breaking 1.0315 might clearly extend the downside move in the upcoming period.
The trading range for this week is between the key support at 1.0185 and the key resistance at 1.0595.
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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