USD/CAD Technical Analysis

(1,0345) The USD/CAD confirmed a positive closing while remaining interior the range of Monday forming therefore a new inside day with 1,0400 – 1,0250 the levels to follow in the coming hours. A break above 1,04 will support further strength aborting the S_H_S formation that we suggested and probably propelling higher this dollar suggesting a 1,05 overshooting! The indicators of the daily chart are still well positive and at the moment also those of the s/t ones are positive or very close to turn above the line supporting further strength. While above the 200 hours line at 1,0342 on an hourly closing we favour further strength but only an hourly closing above 1,0390 will confirm higher levels!! We sold the 1,0335 overshooting as suggested. We have a stop and reverse at 1,0395

Read the full report: USDCAD 06.05

 

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