Back
2 Oct 2013
USD/CAD approaches double tops at 1.0335
FXstreet.com (Chicago) - USD/CAD extends gains ahead of Tokyo’s opening ahead of housing market data and Bernanke’s speech in the US.
USD/CAD Technical Levels
After last September19th recovery post FOMC outlook and Fed’s decision not to taper, the pair has printed higher highs and lows on steady climb. A potential flag formation after peaks at 1.0335 indicates a possible upswing extended by bullish pressure outweighing bears’ ahead of Tokyo. Offered at 1.0333, the pair oscillates between supports aligned at 1.0316 (September 25th highs), 1.0273 (September 30th lows) ahead of 1.0182 (September 19th lows) and the resistances set at 1.0340 (September 26th highs), 1.0364 (September 10th highs) followed by 1.0417 (September 8th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
USD/CAD Technical Levels
After last September19th recovery post FOMC outlook and Fed’s decision not to taper, the pair has printed higher highs and lows on steady climb. A potential flag formation after peaks at 1.0335 indicates a possible upswing extended by bullish pressure outweighing bears’ ahead of Tokyo. Offered at 1.0333, the pair oscillates between supports aligned at 1.0316 (September 25th highs), 1.0273 (September 30th lows) ahead of 1.0182 (September 19th lows) and the resistances set at 1.0340 (September 26th highs), 1.0364 (September 10th highs) followed by 1.0417 (September 8th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.