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28 Jul 2014
USD/CAD onto the 1.08 handle – where next?
FXStreet (Guatemala) - USD/CAD is trading at 1.0801, down -0.09% on the day, having posted a daily high at 1.0820 and low at 1.0795.
USD/CAD has come up onto the 1.08 handle and is attracting supporters. Analysts at TD Securities said, from a technical point of view intraday, they think the short-term dynamics of the market are USD-supportive. “Trend momentum is aligned bullishly across a range of shorter-term time frames which points towards more near-term gains—and pressure on the low 1.08 area noted above—we feel." They continued and said that pushes through 1.0815 should trigger another wave of gains towards 1.09. “We look for firm support on dips to the high 1.07s from here."
USD/CAD hourly levels
Spot is presently trading at 1.0802, and next resistance can be seen at 1.0820 (Daily High). Next support to the downside can be found at 1.0795 (Daily Low), 1.0789 (Daily Classic PP), 1.0757 (Hourly 100 SMA) and 1.0756 (Daily Classic S1).
USD/CAD has come up onto the 1.08 handle and is attracting supporters. Analysts at TD Securities said, from a technical point of view intraday, they think the short-term dynamics of the market are USD-supportive. “Trend momentum is aligned bullishly across a range of shorter-term time frames which points towards more near-term gains—and pressure on the low 1.08 area noted above—we feel." They continued and said that pushes through 1.0815 should trigger another wave of gains towards 1.09. “We look for firm support on dips to the high 1.07s from here."
USD/CAD hourly levels
Spot is presently trading at 1.0802, and next resistance can be seen at 1.0820 (Daily High). Next support to the downside can be found at 1.0795 (Daily Low), 1.0789 (Daily Classic PP), 1.0757 (Hourly 100 SMA) and 1.0756 (Daily Classic S1).