29 Jul 2013
USD/CAD trading at 1.0275 region
FXstreet.com (New York) - The USD/CAD foreign exchange rate has been wavering in negative territory Monday, having lacked the impetus to push higher.
USD/CAD strategic bias
According to the TD Securities Team, “The picture on the short-term USD/CAD chart remains little changed for funds. The USD’s slide is showing signs of consolidating and while further weakness cannot be excluded, the technical balance of risks suggests an oversold USD that has found support at a key retracement point may push a little higher now.”
At the time of writing, the USD/CAD is still incurring losses of -0.07% Monday during US trading, now settling in the region of 1.0276. In terms of the technical levels, the USD/CAD remains fortified by support at 1.0252, ahead of 1.0236, and finally 1.0211. On the ascension, resistive means will trigger if the pair retests 1.0293, and 1.0318, calculates the Mataf.net analyst team.
USD/CAD strategic bias
According to the TD Securities Team, “The picture on the short-term USD/CAD chart remains little changed for funds. The USD’s slide is showing signs of consolidating and while further weakness cannot be excluded, the technical balance of risks suggests an oversold USD that has found support at a key retracement point may push a little higher now.”
At the time of writing, the USD/CAD is still incurring losses of -0.07% Monday during US trading, now settling in the region of 1.0276. In terms of the technical levels, the USD/CAD remains fortified by support at 1.0252, ahead of 1.0236, and finally 1.0211. On the ascension, resistive means will trigger if the pair retests 1.0293, and 1.0318, calculates the Mataf.net analyst team.