USD/CAD Weekly Technical Report 18-22/2/2013
ecPulse
2013-02-18 07:00AM UTC
Despite that the pair didn’t breach 1.0085 levels till now, but moving above 1.0055 levels with Friday closing above it weakens the possibility of negativity. Meanwhile, we cannot confirm extending the upside move now till we see the pair reacting around the referred to 1.0085 levels. Therefore, we prefer to remain neutral in our weekly report waiting for confirmation signals.
The trading range for this week is between the key support at 0.9910 and the key resistance at 1.0290.
The general trend over short term basis is to the downside with daily closing below 1.0125 levels targeting 0.9400.
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