FX.co ★ USD/CAD technical analysis for 04.07.2013

Weekly bars:

The longer time frame still demonstrates the uptrend.

MACD histogram and EMA are both growing demonstrating a bullish trend.

It is worthwhile to search for buy signals.

Daily bars:

The daily chart shows that the prices continued their rally from the sublevel of support at 1.05.

Bulls are targeting 1.058, the upper boundary of the trading envelope.

The average line is placed at 1.04. We recommend selling from that level.