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USD/CAD : The bearish rally continues after the breakout of the annual lows

Sentiment :

--- New analysis ---
The pair USD/CAD continues its bearish rally and the breakouts of 0.9750 and 0.97 both gave us a new sell signal. Currently, the price is testing the next support at 0.9650 and seems to move in h1 into a bearsih channel (purple lines).

In h4, the pair got out from the bottom of its bearish channel (black lines), showing the strengh of the movement. We continue to advise short positions as far as 0.9768 is resistance. The breakout of 0.9650 will give a new buy signal and will open the way towards 0.96.

In case of return above 0.9768, we will be neutral between this level and 0.98.

Analysis published by Bruno, the 09/14/2012 at 8h50 GMT+2

Complete sheet of the pair USD/CAD - Previous USD/CAD Analysis
Chart of the pair USD/CAD - Timeframe 4H - Zoom in :
Chart of the pair USD/CAD - Timeframe 1H
USD/CAD Live Chart - Timeframe : 4h