11 Jul 2014
USD/CAD climbs further above 1.0700
FXStreet (Córdoba) - The USD/CAD continued to rise during the American session and printed a fresh high at 1.0735, hitting levels not seen in two weeks. The pair holds near daily highs, on its way toward the best day since March.
The Loonie is falling across the board after a weak employment report from Canada, that pushed the USD/CAD to the upside.
USD/CAD changes tone dramatically
Before the employment report the USD/CAD was trading in a range between 1.0690 and 1.0620, where multi-month lows, holding a bearish tone on a wider perspective. A few hours ago the pair broke above 1.01690 and jumped above 1.0700 breaking an important resistance.
Now the pair is showing overbought lectures in short-term indicators but on a wider perspective they have changed from neutral to bullish.
The Loonie is falling across the board after a weak employment report from Canada, that pushed the USD/CAD to the upside.
USD/CAD changes tone dramatically
Before the employment report the USD/CAD was trading in a range between 1.0690 and 1.0620, where multi-month lows, holding a bearish tone on a wider perspective. A few hours ago the pair broke above 1.01690 and jumped above 1.0700 breaking an important resistance.
Now the pair is showing overbought lectures in short-term indicators but on a wider perspective they have changed from neutral to bullish.