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USDCAD moves sideways in a range between 0.9780 and 0.9859
Monday, October 1, 2012 18:38
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USDCAD moves sideways in a range between 0.9780 and 0.9859. Support is at 0.9780, as long as this level holds, the price action in the range is treated as consolidation of the uptrend from 0.9632, one more rise to 0.9900 area to complete the upward move could be expected. On the downside, a breakdown below 0.9780 support will indicate that the rise from 0.9632 has completed at 0.9859 already, then the following downward movement could bring price back towards 0.9632 previous low.
