24 Jun 2013
USD/CAD climbing back towards previous highs
FXstreet.com (New York) - The USD/CAD technical pair looked to regain its previous daily highs at 1.0541, retracing higher in recent moments Monday.
USD/CAD bullish intraday streak continues
At the time of writing, the USD/CAD technical pair has rebounded back up to 1.0528 or +0.42% Monday. “The USD/CAD is moving higher and posting new highs. Resistance is at 1.0524 ahead of 1.0658, while support is at 1.0363, suggesting a bullish intraday outlook.” recommends Gareth Berry, a Research Analyst at UBS.
USD/CAD at crossroads
According to the technical analyst team at ICN.com, “A previously calculated resistance level residing at 1.0530 might trigger bearish correction as ideal trading within the channel. Additionally, breaching the 1.0595 level and stabilizing above it with four-hour closing might fail any bearish correction and extend the bullish move.”
USD/CAD bullish intraday streak continues
At the time of writing, the USD/CAD technical pair has rebounded back up to 1.0528 or +0.42% Monday. “The USD/CAD is moving higher and posting new highs. Resistance is at 1.0524 ahead of 1.0658, while support is at 1.0363, suggesting a bullish intraday outlook.” recommends Gareth Berry, a Research Analyst at UBS.
USD/CAD at crossroads
According to the technical analyst team at ICN.com, “A previously calculated resistance level residing at 1.0530 might trigger bearish correction as ideal trading within the channel. Additionally, breaching the 1.0595 level and stabilizing above it with four-hour closing might fail any bearish correction and extend the bullish move.”