8 Jul 2013
USD/CAD unable to retest 1.0600 level
FXstreet.com (New York) - The USD/CAD uptrend paused Monday, unable to retest the 1.0600 level throughout earlier sessions, leading to a slight drop in exchange.
USD/CAD upside rally pauses
At the latter stages of US trading, the USD/CAD is operating in negative territory at 1.0560, incurring a loss of -0.20%, though still trading above earlier lows at 1.0544. The Danske Research team points to supportive measures in the short-term at 1.0505, ahead of 1.0454, and finally 1.0421.
USD/CAD needs to stabilize above 1.0530 to extend upside
According to the Technical Analyst Team at ICN.com, “The USD/CAD stabilized above key resistance of the ascending channel encouraging us to suggest further bullishness this week especially that Linear Regression Indicators tends to be positive. Trading above 1.0485 keeps our expectations valid, while stabilizing above 1.0530 extends the possibility of an upside move.”
USD/CAD upside rally pauses
At the latter stages of US trading, the USD/CAD is operating in negative territory at 1.0560, incurring a loss of -0.20%, though still trading above earlier lows at 1.0544. The Danske Research team points to supportive measures in the short-term at 1.0505, ahead of 1.0454, and finally 1.0421.
USD/CAD needs to stabilize above 1.0530 to extend upside
According to the Technical Analyst Team at ICN.com, “The USD/CAD stabilized above key resistance of the ascending channel encouraging us to suggest further bullishness this week especially that Linear Regression Indicators tends to be positive. Trading above 1.0485 keeps our expectations valid, while stabilizing above 1.0530 extends the possibility of an upside move.”