ALL UPDATES ARE GMT

PiPSQUAD "6.0" MARKET SENTIMENTS - FOR PREMIUM SUBSCRIPTION VISIT OUR WEBSITE. www.PiPSQUAD.com

Friday, August 17, 2012

$USDCAD

$USDCAD  closed higher on Thursday as it extends the rally off June's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. 

Stochastics and the RSI are overbought but remain neutral to bullish signaling that additional short-term gains are possible. If September extends the rally off June's low, April's high crossing at 101.68 is the next upside target. Closes below the 20-day moving average crossing at 99.76 are needed to confirm that a short-term top has been posted. 

First resistance is today's high crossing at 101.35. 
Second resistance is April's high crossing at 101.68. 

First support is the 10-day moving average crossing at 100.59. 
Second support is the 20-day moving average crossing at 99.76.