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USD/CAD: Trend Line Ahead as Bulls March Toward 1.08

USD/CAD: Trend Line Ahead as Bulls March Toward 1.08

2010-07-02 07:02:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Flat

USDCAD has surged past the upper boundary of a falling channel set from May’s swing top to challenge support-turned-resistance at a rising trend established from the mid-April low, now at 1.0686. A push higher exposes major resistance at 1.0763. Positioning does not offer an attractive trading opportunity and we will remain on the sidelines for now.

070210 CAD


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