USD/CAD : Take up of the bearish trend
--- New analysis ---
The pair USD/CAD has failed to pursuit its bullish movement at the end of the last week and the price made a new trend reversal. The breakout of the support at 0.9775 gave us the sell signal. Currently, the pair is making a pullback on the resistance at 0.9789.
So, we advise now to trade only short positions as far as 0.9815 is resistance. A new test of 0.9737 is expected soon. The breakout of this level should allow the price to reach 0.97.
In case of return above 0.9815, we will be neutral between this level and 0.9850.
Analysis published by Bruno, the 10/08/2012 at 8h40 GMT+2
Chart of the pair USD/CAD - Timeframe 4H
Chart of the pair USD/CAD - Timeframe 1H
|USD/CAD Live Chart - Timeframe : 4h|
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