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21 Mar 2013
Forex: USD/CAD falls to 1.0211/13
FXstreet.com (Barcelona) - The USD/CAD has traded fallen steadfastly in recent minutes, plunging deeper into negative Thursday ahead of data in the US and Canada. In recent minutes the cross is establishing fresh lows at 1.0204, though at the time of writing the pair is trading at 1.0211/13, down -0.42% during European trading.
“The three outside down pattern in hourly charts is a confirmation of the overall bearish trend for the USD/CAD. With moderate resistance at 1.0238, we consider shorts at market given the high credibility bearish pattern with a stop loss above it.” suggests Mark De La Paz , an analyst at FX Instructor.
According to Research Analyst Gareth Berry at UBS, “We reiterate a bullish stance on the USD/CAD – the latest strength reinforces the broader bullish theme. A break above 1.0296 would open 1.0366 and
“The three outside down pattern in hourly charts is a confirmation of the overall bearish trend for the USD/CAD. With moderate resistance at 1.0238, we consider shorts at market given the high credibility bearish pattern with a stop loss above it.” suggests Mark De La Paz , an analyst at FX Instructor.
According to Research Analyst Gareth Berry at UBS, “We reiterate a bullish stance on the USD/CAD – the latest strength reinforces the broader bullish theme. A break above 1.0296 would open 1.0366 and