16 Jul 2013
USD/CAD targeting 200d Ma
FXstreet.com (London) - USD/CAD is slowly edging its way higher since the disappointment of the US Retail Sales and subsequent drop from the daily highs.
The pair will be subject to more US data in the form of US CPI, and then tomorrow we will listen to Bernanke’s semi-annual testimony to US Congress tomorrow. However, before that speech, we will see BoC rate decision and Poloz’s first. The tone is unlikely to change under the new Governor and we will revert attention back to the US.
USD/CAD supported at 1.0430
USD/CAD is supported at 1.0430 and is eyeing towards 1.0470 where it may find strong resistance. The bullish channel offer 1.0496 as the key target, slightly above the 200d MA.
The pair will be subject to more US data in the form of US CPI, and then tomorrow we will listen to Bernanke’s semi-annual testimony to US Congress tomorrow. However, before that speech, we will see BoC rate decision and Poloz’s first. The tone is unlikely to change under the new Governor and we will revert attention back to the US.
USD/CAD supported at 1.0430
USD/CAD is supported at 1.0430 and is eyeing towards 1.0470 where it may find strong resistance. The bullish channel offer 1.0496 as the key target, slightly above the 200d MA.