29 Jul 2013
USD/CAD steady 1.0270
FXstreet.com (London) - USD/CAD is stable ahead of a busy week for the US dollar.
USD/CAD faces little in the way of Canadian data this week with the only news being released on Thursday in the form of GDP. For the dollar we start with US Q2, FOMC and then US employment report paint a picture for the summer time markets that will be sensitive to whether the Fed will begin to taper QE at the 17th-18th September FOMC meeting.
USD/CAD limited below 1.0300
USD/CAD is still limited below 1.0300. 1.0315 represents the 61.8% correction is becomes key. The pair is moving within a range between key support, 1.0185 and the key resistance at 1.0400. There is a bias to the upside over the short term with steady daily closing above levels 1.0100 targeting 1.0775.
USD/CAD faces little in the way of Canadian data this week with the only news being released on Thursday in the form of GDP. For the dollar we start with US Q2, FOMC and then US employment report paint a picture for the summer time markets that will be sensitive to whether the Fed will begin to taper QE at the 17th-18th September FOMC meeting.
USD/CAD limited below 1.0300
USD/CAD is still limited below 1.0300. 1.0315 represents the 61.8% correction is becomes key. The pair is moving within a range between key support, 1.0185 and the key resistance at 1.0400. There is a bias to the upside over the short term with steady daily closing above levels 1.0100 targeting 1.0775.