USDCAD This could be the start of something

17 May
2012
by in Uncategorized

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The USDCAD broke higher once again on Thursday and now appears to have a bit of momentum.  The pair broke above the 1.0050 level in late Tuesday trading but consolidated its gains until breaking higher today in New York.  At the Close of trading in New York the pair is challenging daily price resistance at 1.0175.  a break of this level could expose the 1.03 area.  Resistance is still a past support at 1.0050.

Sup     1.0050

Res     1.0175           1.03