USDCAD: 1.0436 could lead to new yearly highs-13:05 (CET)

23 November 2009 @ 07:50 am EDT

Both the daily candles and four hour chart show how the most significant support is 1.0436. If lost, it could lead to a great selling to yearly lows, near parity. Breaking 1.0887 would break, in part, the short trend and would make one think that the dollar is now willing to reach parity so easily. Today, the pair will find support below at 1.0538 and 1.0466, before 1.0436. Above, getting to the small level at 1.0587 could lead it to 1.0644 Canadian dollars per US dollar.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

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