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USD/CAD holding in positive territory at 1.0256/57

FXstreet.com (Barcelona) - The USD/CAD has seesawed back and forth, albeit edging higher overall in a positive consolidation during European trading Tuesday.

According to the ICN.com technical analyst team, “The USD/CAD dropped yesterday and is trading with stability below the 78.6% correction at 1.0270. Linear regression indicators are still positive keeping the overall upside move valid, whereas the pair is trading in the ascending channel, though volatility is expected.”

Presently, the pair has found itself settling in positive territory, up +0.16% above its opening. This however, takes into consideration an easing off overnight highs at 1.0275. Indeed, the cross now operates at 1.0256/57, looking to hold onto the remainder of its gains.

Consistent with the calculations of the Mataf.net analyst team, the USD/CAD will look to eventually test resistive levels at 1.0300, ahead of 1.0337, and finally 1.0378. Alternatively, a paring of recent losses will drive the cross towards resistances at 1.0222, then 1.0181, onto 1.0144.

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