10 Jan 2014
Flash: USD/CAD technically speaking – TDS
FXstreet.com (Guatemala) - Strategists offer a technical analysis on the USD/CAD post NFP’s price action.
Key Quotes:
“The weekly chart is telling”.
“USD/CAD has broken and will post a weekly close above major, medium term resistance points this week in the low/mid 1.08 area”.
“Short and medium-term charts target a push to the upper 1.09s (hourly chart bull target)/1.1025 (daily chart bull target after the break above 1.0735 area). There is nothing in terms of obvious long-term resistance above the market now. USD/CAD looks to have a free run to the 1.10/1.12 area in the weeks ahead”.
Key Quotes:
“The weekly chart is telling”.
“USD/CAD has broken and will post a weekly close above major, medium term resistance points this week in the low/mid 1.08 area”.
“Short and medium-term charts target a push to the upper 1.09s (hourly chart bull target)/1.1025 (daily chart bull target after the break above 1.0735 area). There is nothing in terms of obvious long-term resistance above the market now. USD/CAD looks to have a free run to the 1.10/1.12 area in the weeks ahead”.