By
GCI Financial |
Technical Analysis | Oct 19, 2011 09:32AM GMT |
Canadian dollar rose against greenback amid easing concerns that the US economy is heading into recession.
In the Asian session, at GMT0300, the pair is trading at 1.0132, with the USD trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 1.0075, and a fall through could take it to the next support level of 1.0017. The pair is expected to find its first resistance at 1.0227, and a rise through could take it to the next resistance level of 1.0321.
The pair is expected to trade on the cues from the release of data on leading indicators in Canada.
Please see the attached chart below.
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