23 Jul 2013
USD/CAD testing 1.0340/50
FXstreet.com (London) - USD/CAD is testing the resistance level 1.0340/50 while the pair is bid on the session.
“We see upside risks to headline and ex-autos retail sales for May. Headline will be supported by strong gasoline sales, while auto sales were a marginal positive in May. For the ex-autos measure, clothing, furniture, and building materials related sales look likely to be strong. Stripping out price effects, real growth looks likely to post its third monthly increase, with industry-level GDP for May on track for a solid gain” - said Annette Beacher, Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities.
USD/CAD Levels
20dma 1.0453, 50dma 1.0356, 200dma 1.0121. RSI 38.16. Support 1.0170, 1.0248, 1.0269. Resistances, 1.0393, 1.0445, 1.0472, 1.0526. The trading ranges for today are between the key support at 1.0248 and the key resistance at 1.0445.
“We see upside risks to headline and ex-autos retail sales for May. Headline will be supported by strong gasoline sales, while auto sales were a marginal positive in May. For the ex-autos measure, clothing, furniture, and building materials related sales look likely to be strong. Stripping out price effects, real growth looks likely to post its third monthly increase, with industry-level GDP for May on track for a solid gain” - said Annette Beacher, Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities.
USD/CAD Levels
20dma 1.0453, 50dma 1.0356, 200dma 1.0121. RSI 38.16. Support 1.0170, 1.0248, 1.0269. Resistances, 1.0393, 1.0445, 1.0472, 1.0526. The trading ranges for today are between the key support at 1.0248 and the key resistance at 1.0445.