Canadian Dollar (CAD) Technical Major Currencies (2012-03-14)

By @ibtimes on

Morning Report

The pair is hovering around 0.9890 level, today it rebounded slightly by the start of the session trading above 0.9900. Stochastic is attempting to crossover positively while RSI remain neutral below 50. Thus, we haven't witness any major price action since weeks, but in general we hold onto our bullish expectations awaiting a directional breakout.

The trading range for the week is expected among the key support at 0.9850 and the key resistance at 1.0080.

The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.

Previous Report

Weekly ReportSupport0.98900.98700.98500.98000.9770Resistance0.99400.99901.00201.00501.0080RecommendationBased on the charts and explanations above, we recommend buying the pair around 0.9870 targeting 1.0000 and 1.0080. Stop loss below 0.9825.

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