2 Jul 2013
USD/CAD offered on London open
FXstreet.com (London) - USD/CAD is oscillating 1.0510/20 in London’s opening 30 minutes.
USD/CAD was sold by asset managers and hedge funds yesterday, but managed to pick up and trade back through 1.0500 in NY to print a high of 1.0525 overnight. Traders will be focused on the Canadian Unemployment Rate and US NFP's at the end of the week.
USD/CAD remains in positive territory
USD/CAD remains in positive territory on the daily chart. Risk to the downside may well be contained at previous daily resistance at 1.0400 and could offer an entry point for the bulls again should the pair fail to hang onto the 1.0500 handle. Resistance comes in from the declining trend line 1.0520/30 and 1.0556.
USD/CAD was sold by asset managers and hedge funds yesterday, but managed to pick up and trade back through 1.0500 in NY to print a high of 1.0525 overnight. Traders will be focused on the Canadian Unemployment Rate and US NFP's at the end of the week.
USD/CAD remains in positive territory
USD/CAD remains in positive territory on the daily chart. Risk to the downside may well be contained at previous daily resistance at 1.0400 and could offer an entry point for the bulls again should the pair fail to hang onto the 1.0500 handle. Resistance comes in from the declining trend line 1.0520/30 and 1.0556.