(1,0500) The USD/CAD is confirming still further consolidation interior the inside day with 1,0555 – 1,0460 still the levels to follow in the coming hours/ session. The daily closing was however weak. The indicators of the daily chart are still well positive but those of the s/t ones turned below the line suggesting further pressure. Bullish divergences in the hourly chart confirm a negative tone. A break below 1,0470 will confirm a double top formation favouring lower levels. We follow the inside day for confirmations selling a break below 1,0460!
Read the full report: USDCAD 09.05
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