USDCAD formed a cycle bottom at 0.9818 |
|
USDCAD formed a cycle bottom at 0.9818 on daily chart. Sideways consolidation from 1.0378 (Jan 22 high) has completed and up trend has resumed. Further rise above 1.0378 is expected. Key support is at 0.9818, only break of this level will turn price back to 0.9550 area. For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0326, a break of this level will confirm the cycle bottom.
Filed under: Technical
Latest Posts
- Equity Markets Finding Support but Need Catalyst for Rally
- U.S. Dollar Tumbles as Greece Tensions Ease
- Asia: Weekly Observatory
- USD/JPY Starting to Break Higher…
- Conflicting messages about the strength of the recovery in the region
- Fourth week in a row with downward corrections in commodity prices
- Today’s Live Show: What’s Ahead for the EUR, GBP and USD this Week?
- Today’s Live Show: What’s Ahead for the EUR, GBP and USD this Week?
- Consolidated trading…
- Consolidated trading…
- USD lower, CRB rebounds, Geithner sees slow recovery
- Waiting on the EUR/USD…
- Canada: Housing starts increase 5.8% in January
- Canada: Housing starts increase 5.8% in January
- Petrobras options still signal caution
No Comments! Be The First!