|USD/CAD : The bearish rally continues after the breakout of the annual lows|
|--- Follow up analysis ---|
The support at 0.9650 has allowed last friday a rebound of the pair USD/CAD. The correction continues and the price is now close for the last high of September 13th. This movement led to an exit of the bearish channel in h1 (purple lines).However, we continue to advise short positions as far as 0.9776 is resistance. A return below 0.9717 will comfort our bearish feeling. We could then target a new test of the support at 0.9650. On the medium term, the pair got back into its bearish channel (black lines).
In case of return above 0.9776, we will be neutral between this level and 0.9850 (level of the upper band of the bearish channel in h4).
Analysis published by Bruno, the 09/18/2012 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|