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19 Aug 2013
USD/CAD extends to intraday highs, awaits fresh confirmation signals
FXstreet.com (New York) - The USD/CAD technical pair rose out of earlier depths that had taken it to 1.0315 Monday.
Having risen off its lows, US trading has provided the USD/CAD with a minor spark that is now retesting daily highs at 1.0345 at the time of writing, en route to an advance of +0.01%. Briefing the technicals, the USD/CAD upside remains capped by resistances at .0363, onto 1.0394, and finally 1.0429, calculates the Mataf.net analyst team. Conversely, supports lie below at 1.0297, ahead of 1.0262.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD is still sharply fluctuating as it is stable between Linear Regression Indicators and is trading around 23.6% correction at 1.0330. Sideways trading forces us to remain neutral in our weekly report waiting for new confirmation signals. On the long term, the upside move is valid by trading within the ascending channel.”
Having risen off its lows, US trading has provided the USD/CAD with a minor spark that is now retesting daily highs at 1.0345 at the time of writing, en route to an advance of +0.01%. Briefing the technicals, the USD/CAD upside remains capped by resistances at .0363, onto 1.0394, and finally 1.0429, calculates the Mataf.net analyst team. Conversely, supports lie below at 1.0297, ahead of 1.0262.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD is still sharply fluctuating as it is stable between Linear Regression Indicators and is trading around 23.6% correction at 1.0330. Sideways trading forces us to remain neutral in our weekly report waiting for new confirmation signals. On the long term, the upside move is valid by trading within the ascending channel.”