USD/CAD Technical Analysis (US Dollar / Canadian Dollar)

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February 12, 2013 1:52 AM EST

Updated the:
USD/CAD : Resumption of the uptrend

Sentiment :



--- New analysis ---
The pair USD/CAD has resumed its uptrend last Friday. The price broke the resistance at 1.0, giving us a buy signal. Thereafter, the next resistance at 1.0036 has been broken (new buy signal). On the medium term, a new bullish slant was formed (purple slant).

We recommend to trade only long positions as far as 1.0 is support. The next target is the resistance at 1.01. The breakout of this level will give a new buy signal and would allow the price to reach 1.0150. The bullish scenario is reinforced by a short term bullish slant (purple dotted line) which is now support (see previous analysis).

In case of return below 1.0, we will be neutral between this level and 0.9950.

Full analysis

Analysis published by Bruno, the 02/11/2013 at 8h45 GMT+2

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