A further advance on the part of the US dollar longs will most likely see the pair retreat toward the 1.1800, a level defended by the January 19 daily high at 1.1797. A further break to the upside will most likely see the US dollar traders target the Canadian dollar offers around 1.1893, a level defended by the 38.2 Fib of the 1.2733-1.1373 CAD rally, which also acts as a gateway toward the psychologically important 1.2000 handle. Indicators are mixed with positive momentum indicator diverging from negative MACD, while neutral oscillators give either side enough room to maneuver.
Canadian Dollar Gives Up 1.1500
Fri Feb 24 12:44:00 GMT 2006