Forex: USD/CAD drops to 0.9843
Forex pairs in this Article »
USD/CAD
FXstreet.com (Barcelona) - The beleaguered currency pair has been constricted to a rather narrow 25-pip trading range today, as the USDCAD inches lower en route to establishing fresh intraday minimums in the region of 0.9843. In addition, the recent rally of crude prices has only helped the CAD, settling presently at USD $97.12 and advancing at a rate of +0.07%.
"Despite the tight trading range we see corrective stability below the 0.9870 level, which keeps the possibility for the downside move intact. The linear regression indicator 34 that is biased positively is limiting the negativity, yet stability below 0.9870 could negate the effect and push the pair further to the downside." writes the Analyst Team at ICN.com.
Having fallen -0.10% Tuesday, the technical analyst team at ICN.com isolates the pair's next supports at 0.9825, 0.9800, and finally 0.9750. On the ascension, the pair will meet its respective resistive measures at 0.9870, then 0.9900, and ultimately 0.9935.
"Despite the tight trading range we see corrective stability below the 0.9870 level, which keeps the possibility for the downside move intact. The linear regression indicator 34 that is biased positively is limiting the negativity, yet stability below 0.9870 could negate the effect and push the pair further to the downside." writes the Analyst Team at ICN.com.
Having fallen -0.10% Tuesday, the technical analyst team at ICN.com isolates the pair's next supports at 0.9825, 0.9800, and finally 0.9750. On the ascension, the pair will meet its respective resistive measures at 0.9870, then 0.9900, and ultimately 0.9935.
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