24 Jun 2014
USD/CAD overbought although RSI offers room
FXStreet (Guatemala) - USD/CAD is trading at 1.0740, up 0.08% on the day, having posted a daily high at 1.0746 and low at 1.0712.
USD/CAD remains capped here with the FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is still slightly bullish. Currently RSI is at 62.65, up from the last hourly print at 58.20. Analysts at TD Securities explained, "Intraday, we look for support around the 1.0715/20 area, where the market has based so far this week. Gains may pick up above 1.0745 towards the 1.0780/90 area but may struggle to get much beyond that point for now."
USD/CAD Levels
With spot trading at 1.0740, we can see next resistance ahead at 1.0746 (Daily High), 1.0759 (Daily Classic R1), 1.0764 (Yesterday's High), 1.0784 (Daily 200 SMA) and 1.0785 (Hourly 100 SMA). Support below can be found at 1.0737 (Daily Classic PP), 1.0732 (Monthly Low), 1.0732 (Weekly Low), 1.0731 (Daily Open) and (Hourly 20 EMA).
USD/CAD remains capped here with the FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is still slightly bullish. Currently RSI is at 62.65, up from the last hourly print at 58.20. Analysts at TD Securities explained, "Intraday, we look for support around the 1.0715/20 area, where the market has based so far this week. Gains may pick up above 1.0745 towards the 1.0780/90 area but may struggle to get much beyond that point for now."
USD/CAD Levels
With spot trading at 1.0740, we can see next resistance ahead at 1.0746 (Daily High), 1.0759 (Daily Classic R1), 1.0764 (Yesterday's High), 1.0784 (Daily 200 SMA) and 1.0785 (Hourly 100 SMA). Support below can be found at 1.0737 (Daily Classic PP), 1.0732 (Monthly Low), 1.0732 (Weekly Low), 1.0731 (Daily Open) and (Hourly 20 EMA).