24 Jul 2013
USD/CAD regains 1.0300 level
FXstreet.com (New York) - The USD/CAD foreign exchange rate edged back towards the 1.0300 region Wednesday, rallying off of the 1.0275 level in recent moments.
At the time of writing, the USD/CAD is now settling near 1.0301, presently advancing at a marginal rate of +0.02% above its opening during US trading. Technically speaking, the USD/CAD will encounter resistive means at 1.0368, onto 1.0393, and finally 1.0445. Conversely, supports will trigger at 1.0265, ahead of 1.0230, calculates the Danske Research team.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD dropped quickly when slightly traded above 1.0300, and now the downside move is likely to extend towards 1.0235 at least; breaking the previously mentioned level might extend bearishness towards 1.0185. The referred to level are represented in 78.6% and 88.6% consecutively, as stability below 1.0315 keeps the possibility of touching this level.”
At the time of writing, the USD/CAD is now settling near 1.0301, presently advancing at a marginal rate of +0.02% above its opening during US trading. Technically speaking, the USD/CAD will encounter resistive means at 1.0368, onto 1.0393, and finally 1.0445. Conversely, supports will trigger at 1.0265, ahead of 1.0230, calculates the Danske Research team.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD dropped quickly when slightly traded above 1.0300, and now the downside move is likely to extend towards 1.0235 at least; breaking the previously mentioned level might extend bearishness towards 1.0185. The referred to level are represented in 78.6% and 88.6% consecutively, as stability below 1.0315 keeps the possibility of touching this level.”