21 Nov 2013
USD/CAD's advances capped at 1.0525 again
FXstreet.com (San Francisco) - The US dollar’s rally against its Canadian counterpart is facing resistance at November 14 high at 1.0525 with the pair testing this level several times in the latest couple of hour.
Currently the USD/CAD is trading at 1.0523, 0.74% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.0525, next barrier is at 1.0560 (high Sept 3) and then 1.0575 (high July 9). On the downside, a break below 1.0505 would expose 1.0485 (high Nov 19) and finally 1.0414 (low Nov 18).
Currently the USD/CAD is trading at 1.0523, 0.74% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.0525, next barrier is at 1.0560 (high Sept 3) and then 1.0575 (high July 9). On the downside, a break below 1.0505 would expose 1.0485 (high Nov 19) and finally 1.0414 (low Nov 18).