There is little change to report from a short-term technical perspective as far as USD/CAD is concerned today. The market continues to move sideways between support just under 1.05 and resistance at 1.0535. Narrow range trading yesterday, with the UK markets closed, was perhaps to be expected. A repetition today perhaps less so, considering volatility elsewhere. Short-term patterns look neutral. The flat range and weak momentum make it hard to tease out the likely direction for a break out. Bullish readings over the longer-term studies suggest to us that the topside remains more vulnerable to a test. Read the full report
