1 Jul 2013
USD/CAD testing the 1.0500 level
FXstreet.com (New York) - The USD/CAD technical pair is testing the 1.0500 level during US trading Monday, having fallen lower and weakened recently.
USD/CAD negative expectations intact
“The USD/CAD moved to the upside trading slightly above 1.0500 earlier, triggering the entry point of a bearish scenario. The pair is still stable below key resistance level of the upside move forcing us to hold on to our negative expectations and indicating a bearish correction possibility.” notes the ICN.com technical analyst team.
USD/CAD edges lower
Presently, the USD/CAD has now moved into negative territory at 1.0498, incurring a decline of -0.23%. Briefing the technical levels, Mataf.net analysts have identified supports at 1.0465, ahead of 1.0410, and 1.0365. Alternatively, resistances lie higher at 1.0565, onto 1.0610.
USD/CAD negative expectations intact
“The USD/CAD moved to the upside trading slightly above 1.0500 earlier, triggering the entry point of a bearish scenario. The pair is still stable below key resistance level of the upside move forcing us to hold on to our negative expectations and indicating a bearish correction possibility.” notes the ICN.com technical analyst team.
USD/CAD edges lower
Presently, the USD/CAD has now moved into negative territory at 1.0498, incurring a decline of -0.23%. Briefing the technical levels, Mataf.net analysts have identified supports at 1.0465, ahead of 1.0410, and 1.0365. Alternatively, resistances lie higher at 1.0565, onto 1.0610.