31 Jul 2013
USD/CAD held by 1.03 as trading journey advances
FXstreet.com (Chicago) - USD/CAD retraced from strong 1.0310 resistance as price dropped momentarily below key psychological support at 1.0300 throughout Asia’s trading journey.
The greenback started off the Asian trading session down against a Canadian dollar that accumulates 0.23% weekly losses so far. Price action indicates bullish bias on one-hour time frame analysis as pair failed to consolidate above 1.0300 regions. The MACD index points up along MAs 5 and 20 trading below pair.
On outlook for Fed’s conclusions upon two-day meetings to determine interest rate decision, the greenback maintained its gains from previous reverse from 1.0260 lows. Trading at 1.0298 at moment of writing, the pair oscillated between supports at 1.02954 and 1.0288 and resistances at 1.0300 and 1.0305.
The greenback started off the Asian trading session down against a Canadian dollar that accumulates 0.23% weekly losses so far. Price action indicates bullish bias on one-hour time frame analysis as pair failed to consolidate above 1.0300 regions. The MACD index points up along MAs 5 and 20 trading below pair.
On outlook for Fed’s conclusions upon two-day meetings to determine interest rate decision, the greenback maintained its gains from previous reverse from 1.0260 lows. Trading at 1.0298 at moment of writing, the pair oscillated between supports at 1.02954 and 1.0288 and resistances at 1.0300 and 1.0305.