10 Jan 2014
USD/CAD more room to the upside?
FXstreet.com (Guatemala) - USD/CAD is has been on the way to the 1.0970 target which some strategists were targeting.
Strategists at TD Securities explained technically ,“We noted yesterday that the break out from the minor consolidation (bull flag) in the low 1.08 area suggested a repeat of the 1.0680/1.0830 move up that preceded it (targets a move to 1.0970/80 from the 1.0820 break out)…We look for good support on dips to 1.0900/05 intraday”.
USD/CAD Levels
The 20 DMA is 1.0665, the 50 DMA is 1.0585 and the 200 DMA is 1.0389. RSI (14) reads 72.87. Supports are ascending from 1.0651, 1.0681, 1.0730, 1.0817, 1.0848, 1.0875. Spot is currently 1.0910, with resistances at 1.0940, 1.0961 and 1.0996.
Strategists at TD Securities explained technically ,“We noted yesterday that the break out from the minor consolidation (bull flag) in the low 1.08 area suggested a repeat of the 1.0680/1.0830 move up that preceded it (targets a move to 1.0970/80 from the 1.0820 break out)…We look for good support on dips to 1.0900/05 intraday”.
USD/CAD Levels
The 20 DMA is 1.0665, the 50 DMA is 1.0585 and the 200 DMA is 1.0389. RSI (14) reads 72.87. Supports are ascending from 1.0651, 1.0681, 1.0730, 1.0817, 1.0848, 1.0875. Spot is currently 1.0910, with resistances at 1.0940, 1.0961 and 1.0996.