26 Jul 2013
USD/CAD climbs beyond 1.0300
FXstreet.com (Edinburgh) -The USD/CAD broke the prevailing dullness around 1.0280, quickly correcting higher beyond 1.0300 the figure on Thursday.
USD/CAD propped up by USD
A bout of buying interest lifted the pair to fresh intraday highs above the key resistance at 1.0300, pushing the pair into the positive ground for the first time in the week. “The intraday range is (so far) holding within yesterday’s (implies consolidation). There is strong weekly support (formerly resistance) at 1.0283. We think the slide in USD/CAD may be starting to stabilize”, argued S.Osborne and G.Moore, FX Strategists at TD Securities.
USD/CAD levels to watch
The pair is advancing 0.11% at 1.0290 as of writing, with the immediate up-barrier at 1.0319 (high Jul.25) ahead of 1.0325 (high Jul.24) and then 1.0349 (high Jul.23). On the downside, a violation of 1.0248 (76.4% of 1.01337-1.0609) would expose 1.0218 (daily cloud base) and finally 1.0170 (low Jun.19).
USD/CAD propped up by USD
A bout of buying interest lifted the pair to fresh intraday highs above the key resistance at 1.0300, pushing the pair into the positive ground for the first time in the week. “The intraday range is (so far) holding within yesterday’s (implies consolidation). There is strong weekly support (formerly resistance) at 1.0283. We think the slide in USD/CAD may be starting to stabilize”, argued S.Osborne and G.Moore, FX Strategists at TD Securities.
USD/CAD levels to watch
The pair is advancing 0.11% at 1.0290 as of writing, with the immediate up-barrier at 1.0319 (high Jul.25) ahead of 1.0325 (high Jul.24) and then 1.0349 (high Jul.23). On the downside, a violation of 1.0248 (76.4% of 1.01337-1.0609) would expose 1.0218 (daily cloud base) and finally 1.0170 (low Jun.19).