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18 Oct 2013
USD/CAD pulled by gravity, down 0.54% this week below 1.03
FXstreet.com (Chicago) - USD/CAD continues printing lower lows and highs in the afternoon of the American trading session bouncing off session lows but remaining below the 1.03 zone.
USD/CAD Technical Levels
Technically speaking, the pair extends the bearish trendline that started last October 9th despite attempt of comeback two days ago after the deal between republicans and democrats was sealed. Breaking all supports, the pair is now offered at 1.0287 and oscillates between newly aligned supports at 1.0274 (September 30th lows), 1.0245 (July 30th lows) ahead of 1.02 (September 18th lows) and the resistances set at 1.0316 (October 4th lows), 1.0340 (September 26th highs) followed by 1.0364 (September 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
USD/CAD Technical Levels
Technically speaking, the pair extends the bearish trendline that started last October 9th despite attempt of comeback two days ago after the deal between republicans and democrats was sealed. Breaking all supports, the pair is now offered at 1.0287 and oscillates between newly aligned supports at 1.0274 (September 30th lows), 1.0245 (July 30th lows) ahead of 1.02 (September 18th lows) and the resistances set at 1.0316 (October 4th lows), 1.0340 (September 26th highs) followed by 1.0364 (September 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.