Forex: USD/CAD at 1.0530

on Jul 4, 2013
Listen Thursday July 04th_: The pair yesterday dropped by half a percent, eliminating Tuesday’s rise of 0.49 percent. But so far today the pair has again been rising, to be currently changing hands at 1.0530.

Yesterday the slide was halted at the ascending 200-hour simple moving average and the price began to rise.
The pair is now trading above the MA89 and MA200 on the 1H, 4H and daily timeframes, which supports a bullish outlook.
Resistance levels significant today: 1.0525, 1.0565 and 1.0590.
Support levels important today: 1.0495, 1.0455 and 1.0425.

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