|USD/CAD : Sudden return of the downward trend|
--- New analysis ---
The transition to the new year was done with a bearish gap on the USD/CAD pair, after the United States narrowly avoided the fiscall cliff. The gap has not been filled and a bearish rally took place, breaking all levels of supports including the short and medium term upward slope.
We now recommend to trade only short positions as far as 0.9920 is resistance. The first objective is set at 0.9831. If this level is broken, a new sell signal will be given and then the price should reach 0.98.
In case of return above 0.9920, we will be neutral between this level and 0.9950 (level gap).
|- Complete sheet of the pair USD/CAD - Previous USD/CAD Analysis -|
|Chart of the pair USD/CAD - Timeframe 4H|