USD/CAD : Increase of the volatility
--- Follow up analysis ---
The pair USD/CAD has continued its bullish rally last week after a pullback on 0.9889. The price is currently testing the psychological resistance at 1.0 (our last objective). This last movement has been led by a short term bullish slant (blue line in h1) and a medium term bullish channel appeared (purple lines).
The pair is currently testing the upper band and that could lead to a pullback on 0.9950 before a take up of the bullish rally. We continue to advise long positons as far as 0.9912 is support. The breakout of 1.0 will give a new buy signal and will open the way towards 1.0050.
In case of return bloew 0.9912, a test of the lower band of the channel will be then expected towards 0.9850.
Analysis published by Bruno, the 10/29/2012 at 8h55 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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