USD/CAD Survey according to the Point and Figure Charting for April 27, 2012
Having reached the support level 0.981, the USD/CAD pair resumed the ascending movement within the correction. Presently the main target for purchasers is seen at the resistance level 0.996 where the main line of the descending trend is drawn. In case this level has been overcome, the tendency will change to uprising one and the strong signal for Buy-deals will be provided.
The point 0.981 is considered as the support level. If this level has been passed through, the strong signal for Sell-deals will be provided and the way to the point 0.975 will be opened.
Relative strength index is located in the O column indicating the purchasers’ force. As long as the main tendency remains descending, today it is recommended to sell the pair, when the support level 0.981 has been overcome.
The material has been provided by Instaforex Company – instaforex.com
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