5 May 2014
USD/CAD a test below key support
FXStreet (Guatemala) - USD/CAD is trading at 1.0952, down -0.19% on the day, having posted a daily high at 1.0991 and low at 1.0947.
USD/CAD has been probing the support of the recent channel formed mid last week and is consolidating in that territory between 1.0950/60. Shaun Osbourne, Chief FX Strategist at TD Securities notes that volatility may pick up in the days ahead. “However as the Canadian economic release schedule picks up a little more this week—trade data are released Tuesday (we look for a weak-ish report and note that the contents of last week’s US trade data did not augur too positively for Canada), housing data follow Wednesday and Thursday and the employment report is out on Friday (market consensus is for a 15k gain after the 42.9k rise in March)."
USD/CAD Levels
Spot is presently trading at 1.0952, and next resistance can be seen at 1.0966 (Hourly 100 SMA), 1.0967 (Hourly 20 EMA), 1.0972 (Daily Classic PP), 1.0974 (Daily 100 SMA) and 1.0980 (Daily Open). Support below can be found at 1.0947 (Daily Low), 1.0944 (Weekly Low), 1.0936 (Daily Classic S1), 1.0935 (Yesterday's Low) and 1.0925 (Weekly Classic S1).
USD/CAD has been probing the support of the recent channel formed mid last week and is consolidating in that territory between 1.0950/60. Shaun Osbourne, Chief FX Strategist at TD Securities notes that volatility may pick up in the days ahead. “However as the Canadian economic release schedule picks up a little more this week—trade data are released Tuesday (we look for a weak-ish report and note that the contents of last week’s US trade data did not augur too positively for Canada), housing data follow Wednesday and Thursday and the employment report is out on Friday (market consensus is for a 15k gain after the 42.9k rise in March)."
USD/CAD Levels
Spot is presently trading at 1.0952, and next resistance can be seen at 1.0966 (Hourly 100 SMA), 1.0967 (Hourly 20 EMA), 1.0972 (Daily Classic PP), 1.0974 (Daily 100 SMA) and 1.0980 (Daily Open). Support below can be found at 1.0947 (Daily Low), 1.0944 (Weekly Low), 1.0936 (Daily Classic S1), 1.0935 (Yesterday's Low) and 1.0925 (Weekly Classic S1).