29 Nov 2013
USD/CAD takes out 1.06 resistance
FXstreet.com (London) - USD/CAD has successfully taken out 1.06 handle with conviction.
Meanwhile, TD Securities strategists noted USD/CAD retains a firm undertone on the short-term charts and while early weakness today below rising short-term channel support has been reversed, there are some warnings signs in the price action that a more corrective bias may yet still emerge. They spot firm support at 1.0520/25. And Resistance is 1.0610/15.
USD/CAD Levels
The 20 DMA is 1.0482, the 50 DMA is 1.0403 and the 200 DMA is 1.0325. RSI (14) reads 46.95. Supports are ascending from 1.0414, 1.0436, 1.0480 and 1.0516 and 1.0600. Spot is 1.0617 while resistances are 1.0658 1.0674 and 1.0721.
Meanwhile, TD Securities strategists noted USD/CAD retains a firm undertone on the short-term charts and while early weakness today below rising short-term channel support has been reversed, there are some warnings signs in the price action that a more corrective bias may yet still emerge. They spot firm support at 1.0520/25. And Resistance is 1.0610/15.
USD/CAD Levels
The 20 DMA is 1.0482, the 50 DMA is 1.0403 and the 200 DMA is 1.0325. RSI (14) reads 46.95. Supports are ascending from 1.0414, 1.0436, 1.0480 and 1.0516 and 1.0600. Spot is 1.0617 while resistances are 1.0658 1.0674 and 1.0721.