fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: USD/CAD Daily Outlook  Wed Apr 10, 2013 10:48 am | |
|  USD/CAD Daily Outlook Daily Pivots: (S1) 1.0138; (P) 1.0157; (R1) 1.0180; More... At this point, we're still favoring the case that correction from 1.0341 has completed at 1.0104 already. Thus, we'd expect rebound from there to extend. Above 1.0235 will turn bias back to the upside for retesting 1.0341 resistance first. Break will confirm resumption of whole rally from 0.9633 and should target 1.0445 resistance next. However, note that break of 1.0099 support will have some larger bearish implications and will bring deeper decline. In the bigger picture, price actions from 1.0656 are viewed as a correction pattern, no change in this view. We continue to favor the case that such correction is finished at 0.9633 already and expect further rise through 1.0656 resistance to 38.2% retracement of 1.3063 to 0.9406 at 1.0803. However, sustained break of 1.0099 support will dampen the bullish view and turn focus back to 0.9815 support instead  | |
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