USD/CAD Technicals – Trading back to Parity

Daily Chart


USD/CAD fell back to parity, after price pushed higher recently. Looking from September lows, USD/CAD has come a long way, without any evidence of bullish momentum slowing down. The previous bearish attempt started in late Oct was thwarted without price falling below consolidation of range 0.985 – 0.99 found back in August 2012.

Hourly Chart


Hourly shows price supported by L3 level. A move above Yesterday’s Low will allay bearish pressure for a move towards 1.004. H3/H4 may provide interim resistance.


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