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29 Apr 2013
Forex Flash: USD/CAD potential upside ahead – Danske Bank
FXstreet.com (Barcelona) - The Canadian dollar continues to advance against its neighbour on Monday, dragging the cross below 1.0150.
In the view of A.Lohmann Rasmussen, Analyst at Danske Bank, the pair would be gathering pace for an up-move after the 2009-2011 decline, as seen by the recent formation of higher lows.
“All three moving averages on the chart are now rising, confirming the push higher, while momentum is also in positive territory. A break above 1.0343 would firm the tone further for a challenge on the 2012 peak at 1.0446”, concludes the expert.
In the view of A.Lohmann Rasmussen, Analyst at Danske Bank, the pair would be gathering pace for an up-move after the 2009-2011 decline, as seen by the recent formation of higher lows.
“All three moving averages on the chart are now rising, confirming the push higher, while momentum is also in positive territory. A break above 1.0343 would firm the tone further for a challenge on the 2012 peak at 1.0446”, concludes the expert.