Monday, May 5, 2014

Possible visit of the USD/CAD to the 1.0900 support level.

The US Dollar stays consolidated versus the Canadian Dollar just below the 1.1000 level. We can clearly see on the daily chart below that the 1.1000 level has been a good resistance zone along with the 55 period Exponential Moving Average. There is a good probability of a bounce to the upside if the price visits the 1.0900 level, but first it would have to break the area of the 1.0950 where it is having difficulty to go lower.

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3 comments:

  1. AnonymousMay 6, 2014, 4:28:00 AM

    Good point, I'll be watching the 1.0850 level.

    ReplyDelete
  2. AnonymousMay 6, 2014, 4:23:00 PM

    I agree with your view.

    ReplyDelete
  3. UnknownMay 6, 2014, 4:51:00 PM

    Couldn't agree more with your view and if it breaks it will be in for a huge drop

    ReplyDelete

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