5 Dec 2013
USD/CAD rally moderating
FXstreet.com (London) - USD/CAD has fallen from 1.0700 to find support in 1.0620/30.
Strategists at TD Securities said,“We think the 1.0550/75 area represents solid support from a short/medium-term point of view. We remain long-term USD/CAD bulls and would look upon a short-term correction lower in USD/CAD as a good buying opportunity”.
USD/CAD Levels
The 20 DMA is 1.0525, the 50 DMA is 1.0431 and the 200 DMA is 1.0333. RSI (14) reads 39.95. Supports are ascending from 1.0559, 1.0603 and 1.0624. Spot is 1.0637 while resistances are 1.0677, 1.0708, 1.0721, 1.0745 and 1.0781.
Strategists at TD Securities said,“We think the 1.0550/75 area represents solid support from a short/medium-term point of view. We remain long-term USD/CAD bulls and would look upon a short-term correction lower in USD/CAD as a good buying opportunity”.
USD/CAD Levels
The 20 DMA is 1.0525, the 50 DMA is 1.0431 and the 200 DMA is 1.0333. RSI (14) reads 39.95. Supports are ascending from 1.0559, 1.0603 and 1.0624. Spot is 1.0637 while resistances are 1.0677, 1.0708, 1.0721, 1.0745 and 1.0781.