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20 Jun 2013
USD/CAD establishing fresh highs
FXstreet.com (New York) - The USD/CAD foreign exchange rate is establishing fresh session highs Thursday during European trading, having continued its ascent after yesterdays Fed-induced rise.
At the time of writing, the USD/CAD is trading at 1.0375 (session high), up a robust +0.97% during European trading. Given the recent breakout, Mataf.net analysts point to the next level of resistive correction for the USD/CAD at 1.0433 (previous resistances at 1.0320 and 1.0360 were shattered).
USD/CAD extension likely
According to the Technical Analyst Team at ICN.com, “The USD/CAD moved sharply to the upside yesterday as expected and we see it trading markedly higher with the beginning of the European session – stability above this level is positive and might extend bullishness. Trading above 1.0215 is positive and could push the pair further to the upside.”
At the time of writing, the USD/CAD is trading at 1.0375 (session high), up a robust +0.97% during European trading. Given the recent breakout, Mataf.net analysts point to the next level of resistive correction for the USD/CAD at 1.0433 (previous resistances at 1.0320 and 1.0360 were shattered).
USD/CAD extension likely
According to the Technical Analyst Team at ICN.com, “The USD/CAD moved sharply to the upside yesterday as expected and we see it trading markedly higher with the beginning of the European session – stability above this level is positive and might extend bullishness. Trading above 1.0215 is positive and could push the pair further to the upside.”