Canadian Dollar (CAD) Technical Major Currencies (2011-01-13)

By @ibtimes on

Morning Report

The pair is moving within a narrow range since yesterday, stabilizing below pivotal support 0.9920 and continues showing oversold signs on momentum indicators; therefore, we hold onto our suggested scenario from yesterday and we recommend reviewing it through the link below for more details regarding the expected targets.

The trading range for today is among the key support at 0.9700 and the key resistance at 1.0000.

The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.

Previous Report

Weekly Report

Support0.98150.97500.97000.96500.9600Resistance0.96750.99201.00001.00751.0090RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9920 targeting 0.9815 and stop loss above 1.0000, might be appropriate.

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