8 Aug 2013
USD/CAD hits day lows after data
FXstreet.com (Córdoba) - The USD/CAD edged slightly lower following the latest string of data, which showed US jobless claims rose less than expected last week, while Canadian new housing price index for June came in slightly above expectations.
USD/CAD drops below 1.0400
The USD/CAD slipped below the 1.0400 level and hit a fresh day low of 1.0395, from 1.0415 before the data. At time of writing, USD/CAD is trading around 1.0400, where it records a 0.2% loss on Thursday.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate support levels at 1.0390 (100-hour SMA) and 1.0347 (Aug 6 low), while resistances are seen at 1.0430 (daily high) and 1.0445 (Aug 7 high). However, with the calendar empty for the rest of the day, the pair may enjoy a session of consolidation in the absence of news.
USD/CAD drops below 1.0400
The USD/CAD slipped below the 1.0400 level and hit a fresh day low of 1.0395, from 1.0415 before the data. At time of writing, USD/CAD is trading around 1.0400, where it records a 0.2% loss on Thursday.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate support levels at 1.0390 (100-hour SMA) and 1.0347 (Aug 6 low), while resistances are seen at 1.0430 (daily high) and 1.0445 (Aug 7 high). However, with the calendar empty for the rest of the day, the pair may enjoy a session of consolidation in the absence of news.