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USDCAD: Muted Range Trading Continues

USDCAD: Muted Range Trading Continues

2012-02-17 05:14:00
Ilya Spivak, Head Strategist, APAC
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Strategy: Flat

USDCAD continues to consolidate in a narrow range above 0.9198, with near-term resistance defined at 1.0053. Positioning does not offer an actionable entry signal and we will remain on the sidelines for now until something compelling presents itself.

USDCAD_Muted_Range_Trading_Continues_body_Picture_5.png, USDCAD: Muted Range Trading Continues

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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