11 Jul 2013
USD/CAD climbing
FXstreet.com (London) - USD/CAD has climbed form the overnight lows, 1.0324, to reach a London session high of 1.0433.
Canadian New Housing Price Index YoY for May came as 1.8% vrs 2.0% previous. The pair continued higher until a series of negative US data was revealed, albeit only second tier marks. The pair has struggled to move further higher since he releases.
USD/CAD holding onto positive territory
Overall, USD/CAD remains bid within a rising channel, and trading above 1.0400 is positive for the pair. Research teams at TD Securities said, “With support in the low 1.03 area holding though, we are inclined to look for a push back to the upper 1.04s now. We want to buy USD dips still”. Danske Bank Technical Update offers support 1.0364 ahead of 1.0324. Resistances are 1.0472, 1.0550 and 1.0609.
Canadian New Housing Price Index YoY for May came as 1.8% vrs 2.0% previous. The pair continued higher until a series of negative US data was revealed, albeit only second tier marks. The pair has struggled to move further higher since he releases.
USD/CAD holding onto positive territory
Overall, USD/CAD remains bid within a rising channel, and trading above 1.0400 is positive for the pair. Research teams at TD Securities said, “With support in the low 1.03 area holding though, we are inclined to look for a push back to the upper 1.04s now. We want to buy USD dips still”. Danske Bank Technical Update offers support 1.0364 ahead of 1.0324. Resistances are 1.0472, 1.0550 and 1.0609.