31 Jul 2013
USD/CAD rejected from 1.0340
FXstreet.com (Edinburgh) -After hitting session highs near 1.0340 post US data, the upside in the USD/CAD deflated and is now posting fresh lows around 1.0280.
USD/CAD up and down it goes
The USD bull run lifted the pair to the boundaries of 1.0340 on the wake of better than expected Annualized US GDP during the second quarter, although the upside lost vigour in the proximity of 1.0340, dragging the pair to current intraday lows below 1.0280. “We think there is growing scope for a rebound to the high 1.03 area at least near-term (40-day MA at 1.0367). Bullish above there”, suggested analysts at TD Securities.
USD/CAD key levels
The pair is now retreating 0.19% at 1.0287 with the next support at 1.0258 (low Jul.30) ahead of 1.0253 (low Jul.29) and then 1.0248 (76.4% of 1.0137-1.0609). On the upside, a break above 1.0347 (cloud top) would bring 1.0349 (high Jul.13) and finally 1.0355 (low Jul.17).
USD/CAD up and down it goes
The USD bull run lifted the pair to the boundaries of 1.0340 on the wake of better than expected Annualized US GDP during the second quarter, although the upside lost vigour in the proximity of 1.0340, dragging the pair to current intraday lows below 1.0280. “We think there is growing scope for a rebound to the high 1.03 area at least near-term (40-day MA at 1.0367). Bullish above there”, suggested analysts at TD Securities.
USD/CAD key levels
The pair is now retreating 0.19% at 1.0287 with the next support at 1.0258 (low Jul.30) ahead of 1.0253 (low Jul.29) and then 1.0248 (76.4% of 1.0137-1.0609). On the upside, a break above 1.0347 (cloud top) would bring 1.0349 (high Jul.13) and finally 1.0355 (low Jul.17).