23 Jul 2014
USD/CAD tests intra-week lows around 1.0710
FXStreet (San Francisco) - The USD/CAD declined to fresh lows since July 18 around 1.0710 following Canadian retail sales data.
Earlier in the day, the USD/CAD declined from the 1.0745 area to bounce back at 1.0710; however the pair failed to recover more ground and it was rejected by the 1.0725 pre-data.
Canadian Retail sales rose 0.7% in May; previous month revised 2 bps up to 1.3%. Overall above expectations.
Currently, USD/CAD is trading at 1.0727, down 0.10% on the day, having posted a daily high at 1.0744 and low at 1.0709. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair manages to break below the 1.0710 area, next supports would be 1.0690 and the 1.0625 area. On the upside, 1.0725, 1.0760 and 1.0790 are resistances.
Earlier in the day, the USD/CAD declined from the 1.0745 area to bounce back at 1.0710; however the pair failed to recover more ground and it was rejected by the 1.0725 pre-data.
Canadian Retail sales rose 0.7% in May; previous month revised 2 bps up to 1.3%. Overall above expectations.
Currently, USD/CAD is trading at 1.0727, down 0.10% on the day, having posted a daily high at 1.0744 and low at 1.0709. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair manages to break below the 1.0710 area, next supports would be 1.0690 and the 1.0625 area. On the upside, 1.0725, 1.0760 and 1.0790 are resistances.