Thu, 11 Nov 2010 13:23:00 +0100

Forex: USD/CAD rises to high in 1.0045

FXstreet.com (Barcelona) - The USD/CAD begins to firmly consolidate above parity by mid-day Europe, bursting some 25 pips to an intraday high of 1.0045 most recently. The pair has settled slightly underneath that peak at 1.0032 at time of writing, yet still maintains bullish tendencies.

Cesar Leiceaga of Deltastock suggests: ¨Long term bias for the USD/CAD remains neutral, a solid base is now formed around parity level. Intraday: holding 0.9980 support although the bias remains bearish.While prices quote above parity levels we're looking to try small long positions playing the range trade targeting 1.0100 - 1.0150s or reverse on a brake below 0.9980.¨

Technical Analysis (2010-11-11 12:15 GMT)
USD/CAD 1.0027/1.0031 - O: 1.0006 H: 1.0008 L: 1.0002 C: 1.0005
Trend	R3: 1.0082
	R2: 1.0057
	R1: 1.0032
	S1: 0.9977
	S2: 1.0002
	S3: 1.0027