29 Oct 2013
USD/CAD sustains 40-day peaks above 1.0460
FXstreet.com (Chicago) - USD/CAD reached 1.0710 session highs and holds on to bearish pressure ahead of Tokyo’s opening.
Rates maintained
No surprises took place in the US after the release of the Fed’s interest rate decision and quantitative program state of affairs. Wall Street closed with gains. In Canada, Mr. Poloz from the BoC said the bank expects growth but the pace will take longer than estimated.
USD/CAD Technical Levels
Technically speaking, the pair retraces from 44-day highs after strong rally that led the pair to 1.0710 session highs. Supported by primary and secondary trends pointing up, the pair is offered at 1.0466 and oscillates between the supports aligned at 1.0445 (October 25th highs), 1.0418 (October 9th highs) ahead of 1.0389 (October 15th highs) and the resistances set at 1.0474 (September 4th lows), 1.0494 (August 26th lows) followed by 1.0517 (September 6th highs).
Rates maintained
No surprises took place in the US after the release of the Fed’s interest rate decision and quantitative program state of affairs. Wall Street closed with gains. In Canada, Mr. Poloz from the BoC said the bank expects growth but the pace will take longer than estimated.
USD/CAD Technical Levels
Technically speaking, the pair retraces from 44-day highs after strong rally that led the pair to 1.0710 session highs. Supported by primary and secondary trends pointing up, the pair is offered at 1.0466 and oscillates between the supports aligned at 1.0445 (October 25th highs), 1.0418 (October 9th highs) ahead of 1.0389 (October 15th highs) and the resistances set at 1.0474 (September 4th lows), 1.0494 (August 26th lows) followed by 1.0517 (September 6th highs).