USD/CAD - US Dollar Canadian Dollar, European Session - 03/07/09

By IBTimes Staff Reporter | July 03 2009 2:19 AM

1,1597. USD CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H, daily ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a support above 1,1590 (7 pips). If the support breaks then the target will be 1,1440 (157 pips).

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Resistances: 1,1640 - 1,1675
Supports: 1,1515 - 1,1440

tags: Forex, usdcadauthor: Arnaud JeulinMataf.net offers technical analysis, forex news and currency converter.

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