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16 May 2013
Forex: USD/CAD creeping upwards towards 1.0200
FXstreet.com (Barcelona) - The USD/CAD has been unusually active overnight and into the European session, ranging higher and trading robustly with the advent of fluctuating crude prices and a strengthening American dollar. In these moments, the pair has recovered off an overnight trough at 1.0150 (session low), and is inking fresh daily highs at 1.0182/85 at the time of writing.
According to the Mataf.net technical analyst team, per a rise in the USD/CAD, the cross will encounter its next short-term resistances at 1.0200, followed by 1.0243, and 1.0268. Conversely, the pair is slated to face calculated support at 1.0132, then 1.0107, and ultimately 1.0064.
“The USD/CAD touched the 1.0215 level before moving to the downside, then remained limited above 1.0140 keeping the possibility of extending the upside move valid. In addition, linear regression indicators are still positive supporting our intraday positive expectations.” notes the ICN.com Technical Analyst team.
According to the Mataf.net technical analyst team, per a rise in the USD/CAD, the cross will encounter its next short-term resistances at 1.0200, followed by 1.0243, and 1.0268. Conversely, the pair is slated to face calculated support at 1.0132, then 1.0107, and ultimately 1.0064.
“The USD/CAD touched the 1.0215 level before moving to the downside, then remained limited above 1.0140 keeping the possibility of extending the upside move valid. In addition, linear regression indicators are still positive supporting our intraday positive expectations.” notes the ICN.com Technical Analyst team.