June 30, 2008 05:34

Technical Analysis – USD/CAD Shorts Favored

Posted In: Technical Analysis
By:

6-28-08

6:28a GMT – Shorts remain my favorites for the USD/CAD pair as it traces down from its 1.03 monthly high to its range bottom. Concerns are a possible bullish divergence in the 4 hour RSI charts.

Trading Idea: In the short to mid-term shorts at 1.0125 should hold for a test of 1.0080 and 1.0025. If resistance is broken at 1.0135 look for test of 1.0190 on the upside.

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