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21 Oct 2013
USD/CAD contained until US payroll's numbers?
FXstreet.com (London) - USD/CAD is failing again at the resistance line of 1.03 the handle.
USD/CAD continues to move within the sideways channel formed last week after Wednesdays decline from 1.0376. On Friday Canadian CPI came in close to expectations leaving USD/CAD stuck in a very tight range. Today, US Existing Home Sales disappointed, keeping the pair below 1.0300 with the actual number printing at 5.29m and worse than markets expectations of 5.32m. Meanwhile, Canadian wholesales sales improved 0.5% vs 0.3%. Support remains around 1.0260/70 (200 day moving average at 1.0261) whilst 1.0320/30 should contain any rally ahead of tomorrow’s US payrolls.
USD/CAD Levels
The 20 DMA is 1.0329, the 50 DMA is 1.0371 and the 200 DMA is 1.0261. RSI (14) reads 56.07. Supports are ascending from 1.0150, 1.0170, 1.0182 and 1.0270. Spot is currently 1.0296 while resistances are at the handle and then 1.0332, 1.0392, 1.0420 and 1.0472.
USD/CAD continues to move within the sideways channel formed last week after Wednesdays decline from 1.0376. On Friday Canadian CPI came in close to expectations leaving USD/CAD stuck in a very tight range. Today, US Existing Home Sales disappointed, keeping the pair below 1.0300 with the actual number printing at 5.29m and worse than markets expectations of 5.32m. Meanwhile, Canadian wholesales sales improved 0.5% vs 0.3%. Support remains around 1.0260/70 (200 day moving average at 1.0261) whilst 1.0320/30 should contain any rally ahead of tomorrow’s US payrolls.
USD/CAD Levels
The 20 DMA is 1.0329, the 50 DMA is 1.0371 and the 200 DMA is 1.0261. RSI (14) reads 56.07. Supports are ascending from 1.0150, 1.0170, 1.0182 and 1.0270. Spot is currently 1.0296 while resistances are at the handle and then 1.0332, 1.0392, 1.0420 and 1.0472.