Forex Investment and Currency Trading

USD/CAD Trapped in a Neutral 0.9724 – 1.0343 Trading Range
Active “Layered” hedging strategy - Sellers of USD/CAD should focus on resistance at 1.0235, 1.0343. A 3-month cable car option could also be incorporated into this strategy.
Disciplined “layered” hedging strategy - Buyers of USD/CAD should focus on support at 0.9895, 0.9724 and 0.9422. In addition, a 3-month [...]

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Over recent weeks it appears the USD has been struggling with a narrowing triangle, with topside resistance coming from the June 13 recovery high with support coming from the mid-March low (excluding the panic fall before the NY open on March 17).
With lower oil prices limiting downside risks to US growth during the months ahead, [...]

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USD-SGD looks to be putting in a double bottom below 1.35
If confirmed, this suggests a test of 1.3660 and 1.3850 in the next few weeks
Risk would be for a sustained drop below 1.3450
Technically, we should reduce USD-SGD shorts, eliminate on a break of 1.3660

Technical Indicators: Mixed

 
14-day RSI: Bullish signal
RSI is at 38.05 is turning higher [...]

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