(0,9970) The USD/CAD failed to confirm the positive day reversal confirming instead another session of consolidation interior the inside day with 1,0050 – 0,9945 still the levels to follow in the coming hours. Only a daily closing below 0,9945 will support lower levels!! The indicators of the daily chart are however still in positive territory while those of the s/t ones are still showing a mixed picture suggesting further consolidation. Bullish divergences in the hourly chart still support a negative tone. Possible move up are therefore corrective and selling opportunities but only close to the 1,0050 resistance area. An hourly closing above 1,0000 will confirm a small double top supporting an extension of the correction. We wait for a possible extension of the correction to sell.
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Future Trend Research