Dollar Versus Loonie and Franc August 31st

FX Strategy Video > Currency Pairs Analysis

USD/CAD rose above the 0.98 level on Tuesday, but fell later in the day to form a shooting star-like candle. This shows just how weak the bulls are, and coincides with the oil markets that are all either on the way to breaking out to the upside, or already have in the case of a few of them.

The USD/CHF pair ran to the weekly trend line, but failed. However, there is a resistance area just above this line as well that we are watching. The action isn't convincing either way at the moment, so we can only go by breakout points in this pair. A daily close above 0.83 could lead to something special on the upside in this pair. A breaking of 0.8000 is needed to start selling again.

Published on 30th of August 2011
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