USD/CAD Weekly Technical Report 4-8/1/2013

ecPulse
2013-02-04 08:50AM UTC

 

 

The pair is consolidating around 0.9970 levels representing a critical barrier for the upside move. The pair is trading in oversold areas as shown on Stochastic, and Linear Regression Indicators are positive forcing us to expect an upside move during this week provided that areas of 0.9905 remain intact. 

The trading range for this week is between the key support at 0.9800 and the key resistance at 1.0290.

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

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