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12 Aug 2013
USD/CAD, bulls outpacing bears?
FXstreet.com (Chicago) - USD/CAD has accumulated 0.18% gains prior to retail sales and housing data to be made public later this week.
Price action indicates the pair is up 0.18% for the day, revering from previous week’s shut off. Trading at 1.0305, supports at 1.0300 (July 27th highs), 1.0293 (May 31st lows) and 1.0279 (July 22nd lows) are respected. On the upside, resistances are aligned at 1.0312 (July 23rd highs), 1.0323 (July 11th lows) ahead of 1.0331 (July 31st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.
According to the ICN technical analysis team, the trading range for this week is between key support at 1.0100 and the key resistance at 1.0400 with a general short term trend outlook to the upside.
Price action indicates the pair is up 0.18% for the day, revering from previous week’s shut off. Trading at 1.0305, supports at 1.0300 (July 27th highs), 1.0293 (May 31st lows) and 1.0279 (July 22nd lows) are respected. On the upside, resistances are aligned at 1.0312 (July 23rd highs), 1.0323 (July 11th lows) ahead of 1.0331 (July 31st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.
According to the ICN technical analysis team, the trading range for this week is between key support at 1.0100 and the key resistance at 1.0400 with a general short term trend outlook to the upside.