Monday, October 8, 2012

USD/CAD Technical Analysis - October 8, 2012

USD/CAD Technical Analysis - October 8, 2012

USD/CAD is posing for a further appreciation after a major bearish correction in the end of the last week. However, as there is significant lack of strong support levels, pair should remain depressed below resistance levels around 0.9800. 

Probability of sharp drop to 0.9717/00 should not be disregarded as technical indicators still point at significant downside risk of the pair. Read more