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USD/CAD - US Dollar Canadian Dollar, European Session - 03/07/09

03 Jul, 2009 @ 02:19 am ET | written by Mataf


1,1597. USD CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H, daily ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a support above 1,1590 (7 pips). If the support breaks then the target will be 1,1440 (157 pips).
Resistances
1,1640 - 1,1675
Supports
1,1515 - 1,1440

tags: Forex, usdcad
author: Arnaud Jeulin
Mataf.net offers technical analysis, forex news and currency converter.

For more forex information, go to www.mataf.net

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