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14 Aug 2013
USD/CAD rallies off support as recovery transpires
FXstreet.com (New York) - The USD/CAD foreign exchange rate has been entrenched in negative territory Wednesday, unable to shake free despite bouncing off a session low at 1.0316.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The pair traded lower slashing some of its early gains, but remained limited above 1.0330 which is positive and might bring the upside move again. Meanwhile, the stochastic is showing a positive crossover close to 30 points.”
USD/CAD technical levels
The USD/CAD has recovered the mark of 1.0327 in these moments, still incurring a loss of -0.14% off its opening during US trading. Technically speaking, the USD/CAD will face support at 1.0316 (August 12 high/session low), ahead of 1.0275 (August 9 low).
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The pair traded lower slashing some of its early gains, but remained limited above 1.0330 which is positive and might bring the upside move again. Meanwhile, the stochastic is showing a positive crossover close to 30 points.”
USD/CAD technical levels
The USD/CAD has recovered the mark of 1.0327 in these moments, still incurring a loss of -0.14% off its opening during US trading. Technically speaking, the USD/CAD will face support at 1.0316 (August 12 high/session low), ahead of 1.0275 (August 9 low).