USD/CAD Weekly Technical Report 24-28/12/2012
ecPulse
2012-12-24 06:46AM UTC
The pair rose with the end of the session last Friday and is fluctuating around 0.9935 pivotal levels, we need stability above the mentioned level to confirm more upside where momentum indicators are showing negative signals that may force the pair back to the downside. Therefore, we remain neutral for now awaiting more confirmations.
The trading range for this week is among key support at 0.9700 and key resistance at 1.0135.
The general trend over short term basis is to the downside below levels 1.0125 targeting 0.9400.
Support 0.9900 0.9865 0.9825 0.9800 0.9770
Resistance 0.9935 0.9950 0.9990 1.0000 1.0040
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move
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