20 Aug 2013
USD/CAD, on second attempt to peak higher; steps away from 1.0390 zone
FXstreet.com (Chicago) - USD/CAD attempts to regain earlier peaks as it trades positively with 0.46% daily gains, approaching 1.0400 intraday highs. The pair had retraced from heights but has held on to gained levels in the afternoon of the American trading session.
Slumped sales, Speculations and Uncertainty
In Canada, wholesale sales for June (MoM) fell to -2.8% vs. a previous 2.2% and an expected -0.7%. Speculations in Wall Street and among market participants intensified as the FOMC minutes are due tomorrow at 18:00 GMT. With mixed results, the US had a -0.15 Chicago Fed National Activity Index for June vs. previous -0.23 along a 0.2% decline from 0.4% previous data for the Redbook index (MoM).
Technical Levels, short-term bullish bias
Trading at 1.0389, the greenback continues strengthening against the loonie adding 0.03% hourly gains to the 0.37% daily increment. On the downside, supports are set at 1.0379 (July 12th lows), 1.0369 (August 14th highs) followed by 1.0359 (August 17th highs) while the upside aligns resistances at 1.0393 (July 17th highs), 1.0400 (August 1st highs) followed by 1.0413 (May 29th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.
Slumped sales, Speculations and Uncertainty
In Canada, wholesale sales for June (MoM) fell to -2.8% vs. a previous 2.2% and an expected -0.7%. Speculations in Wall Street and among market participants intensified as the FOMC minutes are due tomorrow at 18:00 GMT. With mixed results, the US had a -0.15 Chicago Fed National Activity Index for June vs. previous -0.23 along a 0.2% decline from 0.4% previous data for the Redbook index (MoM).
Technical Levels, short-term bullish bias
Trading at 1.0389, the greenback continues strengthening against the loonie adding 0.03% hourly gains to the 0.37% daily increment. On the downside, supports are set at 1.0379 (July 12th lows), 1.0369 (August 14th highs) followed by 1.0359 (August 17th highs) while the upside aligns resistances at 1.0393 (July 17th highs), 1.0400 (August 1st highs) followed by 1.0413 (May 29th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.