18 Jun 2014
USD/CAD holds above 1.0855 ahead of the FED
FXStreet (Córdoba) - The USD/CAD remains quiet on Wednesday, as investors await for the FOMC statement and Yellen’s press conference. The Loonie is falling modestly against the US dollar for the second day in a row, but trading remains limited.
Currently the pair trades at 1.0866, up 0.06% for the day, moving in a range below 1.0875 and above 1.0855.
USD/CAD technical outlook
According to FX Analysts at TD Securities, the pair is picking up more support on the short term chart but the market remains essentially range-bound. “We look for a little more topside progress over the course of the session but we still have to think that near-term gains will struggle to push on through resistance in the high 1.08s for the moment”.
Currently the pair trades at 1.0866, up 0.06% for the day, moving in a range below 1.0875 and above 1.0855.
USD/CAD technical outlook
According to FX Analysts at TD Securities, the pair is picking up more support on the short term chart but the market remains essentially range-bound. “We look for a little more topside progress over the course of the session but we still have to think that near-term gains will struggle to push on through resistance in the high 1.08s for the moment”.