19 Jul 2013
USD/CAD unable to pierce 1.0400 level
FXstreet.com (Barcelona) - The USD/CAD technical pair faltered earlier after an attempt at the 1.0400 region Friday (1.0395 intraday high), having now eased lower.
Technically speaking, the USD/CAD is still afloat in positive territory, albeit up only +0.02%, and trading at 1.0379. The Mataf.net analyst team identifies resistance at 1.0424, onto 1.0465, and finally 1.0491. Conversely, a break below the 1.3057 support will initiate 1.0331, and 1.0290.
USD/CAD strategic bias
According to the TD Securities Team, “The USD/CAD is mixed on the short-term charts – gains through trend resistance off the recent highs were not sustained and the market is back to pressuring the range base in the upper 1.03s today. Downside risks will increase below 1.0330/70 but we rather think the market will continue to range trade for now.”
Technically speaking, the USD/CAD is still afloat in positive territory, albeit up only +0.02%, and trading at 1.0379. The Mataf.net analyst team identifies resistance at 1.0424, onto 1.0465, and finally 1.0491. Conversely, a break below the 1.3057 support will initiate 1.0331, and 1.0290.
USD/CAD strategic bias
According to the TD Securities Team, “The USD/CAD is mixed on the short-term charts – gains through trend resistance off the recent highs were not sustained and the market is back to pressuring the range base in the upper 1.03s today. Downside risks will increase below 1.0330/70 but we rather think the market will continue to range trade for now.”