20 Aug 2013
USD/CAD testing session highs at 1.0400
FXstreet.com (New York) - The USD/CAD foreign exchange rate surged higher Tuesday, notching fresh highs during US trading and testing the 1.0400 region.
Technically speaking, the USD/CAD is now trading at 1.0399, securing an advance of +0.46% above its opening. Briefing the technicals, the USD/CAD is currently testing resistance at 1.0405, onto 1.0430, and finally 1.0445, a break of which will open up 98.21 and 98.56, notes the Danske Research Team.
USD/CAD strategic bias
According to the TD Securities Team, “The USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45. The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.”
Technically speaking, the USD/CAD is now trading at 1.0399, securing an advance of +0.46% above its opening. Briefing the technicals, the USD/CAD is currently testing resistance at 1.0405, onto 1.0430, and finally 1.0445, a break of which will open up 98.21 and 98.56, notes the Danske Research Team.
USD/CAD strategic bias
According to the TD Securities Team, “The USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45. The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.”