FXstreet.com (Barcelona) - After bottoming out at 0.9766 (session low) during European trading, the USD/CAD has jumped over 30 pips to reach establish a fresh intraday maximum of 0.9813. In recent moments however, the pair has once again pared a portion of its gains, testing the 0.9800 level, whilst still securing an advance of +0.14% during American trading.
However, “The USD/CAD provided another top below the previous set peak as provided on the chart. This is accompanied with the pair returning below the 0.9785 mark and the stochastic is trading negatively while RSI is trending below 50.” states the technical analyst team at ICN.com.
The technical analyst team at ICN.com posits the next resistances at 0.9825, followed by 0.9885 and 0.9900. On the decent, a prolonged decline will encounter supportive bastions located at 0.9755, then 0.9715 and ultimately 0.9680.
The pair has certainly been helped by the decline of crude oil Monday, which has recently traded in the area of USD $90.04, down a cool -1.98% on the day.
However, “The USD/CAD provided another top below the previous set peak as provided on the chart. This is accompanied with the pair returning below the 0.9785 mark and the stochastic is trading negatively while RSI is trending below 50.” states the technical analyst team at ICN.com.
The technical analyst team at ICN.com posits the next resistances at 0.9825, followed by 0.9885 and 0.9900. On the decent, a prolonged decline will encounter supportive bastions located at 0.9755, then 0.9715 and ultimately 0.9680.
The pair has certainly been helped by the decline of crude oil Monday, which has recently traded in the area of USD $90.04, down a cool -1.98% on the day.
