FX.co ★ USD/CAD Bullish Outlook April 15, 2011 (Daily Strategy)

USD/CAD

You can take advantage of the flight of investors to the United States dollar by taking long position against the U.S. dollar - Canadian dollar.

Technically, the pair has broken its downtrend line, which accompanied him from 15 March. For now, the Canadian price is above its first monthly support,(0.9596) so support our bullish outlook. The MACD indicator shows bullish sign.

The upside potential in this case reaches to high levels of resistance of 1.0200, when in the way can also be found important intermediate levels of 0.9920 and 0.9780 can serve as key points for partial exercise position.