The USD/CAD has oscillated in an extremely narrow 26-pip consolidation Monday (1.0307 – 1.0333) during a muted holiday session, presently operating at 1.0317/18.
In these moments the pair is securing a modest advance of +0.13% above its opening during European trading. Technically speaking, Mataf.net analysts resistive to supportive means for the USD/CAD at 1.0352, onto 1.0375, and ultimately 1.0396. On the decline, a break below the 1.0308 handle will initiate support at 1.0287 and 1.0264.
According to the ICN.com Technical Analyst Team, “The USD/CAD consolidated above 1.0270 levels, which is positive supported by Linear Regression Indicators. Moreover, the pair is moving within an ascending channel towards more bullishness during this week to test key resistance level of this channel around 1.0430.” – FXstreet.com (Barcelona)
