USD/CAD Weekly Technical Report 14-18/1/2013

The pair is trading in a critical situation with the start of the week trading and couldn’t confirm breaking 0.9820 and 0.9800 support, and is consolidating below 0.9840 and 0.9855 resistance levels. This makes us prefer to remain neutral for now , whereas trading within those levels is very critical alongside trading around Linear Regression Indicators that aren`t offering any confirmation either. 

The trading range for this week is between the key support at 0.9700 and the key resistance at 1.0040.

The general trend over short term basis is to the downside below levels 1.0125 targeting 0.9400.

Support 0.9820 0.9800 0.9780 0.9735 0.9700

Resistance 0.9840 0.9875 0.9895 0.9910 0.9965

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move