26 Jul 2013
USD/CAD testing downside to 1.0260
FXstreet.com (Barcelona) - USD/CAD is printing lower in the European session on a soft dollar.
USD/CAD is coming to a close this week 100 pips down from last Friday and comments in the WSJ article will not have done the pair any favours either. A dovish tone from the Fedcould unwind positioning in the US dollar and impact on the pair. It is a quiet day data wise today, but there may still be room for more extensions of the downside yet as US markets open to close things off for the week.
USD/CAD levels
Danske Bank Techical Updates offer the 20d ma 1.0420 and 50d ma 1.0360 and 200d ma at 1.0127 with RSI (9) 34.54. Supports come in at 1.0137, 1.0150, 1.0170, and 1.0230. Resistances above 1.0300 are 1.0349, 1.0368, 1.0393 and 1.0445. USD/CAD eyes the 88.6% correction, first to battle 1.0235 and then could be heading for 1.0185 consecutively. The range for today is between the key support at 1.0185 and the key resistance at 1.0400.
USD/CAD is coming to a close this week 100 pips down from last Friday and comments in the WSJ article will not have done the pair any favours either. A dovish tone from the Fedcould unwind positioning in the US dollar and impact on the pair. It is a quiet day data wise today, but there may still be room for more extensions of the downside yet as US markets open to close things off for the week.
USD/CAD levels
Danske Bank Techical Updates offer the 20d ma 1.0420 and 50d ma 1.0360 and 200d ma at 1.0127 with RSI (9) 34.54. Supports come in at 1.0137, 1.0150, 1.0170, and 1.0230. Resistances above 1.0300 are 1.0349, 1.0368, 1.0393 and 1.0445. USD/CAD eyes the 88.6% correction, first to battle 1.0235 and then could be heading for 1.0185 consecutively. The range for today is between the key support at 1.0185 and the key resistance at 1.0400.