4 Sep 2013
USD/CAD falls ahead of BoC decision
FXstreet.com (Córdoba) - The USD/CAD slumped to fresh lows after breaking below the 1.0510/1.0500 support area ahead of the BoC monetary policy decision.
USD/CAD hits 1-week low, BoC eyed
USD/CAD dropped over 60 pips throughout the day, weighed by a softer USD, and printed a 1-week low of 1.0478 before finding support and recovering some ground. Next during the American session, Canada will publish its merchandise trade balance and the BoC will announce its policy decision at 14:00 GMT.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0495 zone, 0.4% below its opening price. As for technical levels, immediate supports could be found at 1.0478 (daily low) and 1.0425 (21-day SMA), while resistances are now seen at 1.0510 (10-day SMA/former support) and 1.0540 (daily high).
USD/CAD hits 1-week low, BoC eyed
USD/CAD dropped over 60 pips throughout the day, weighed by a softer USD, and printed a 1-week low of 1.0478 before finding support and recovering some ground. Next during the American session, Canada will publish its merchandise trade balance and the BoC will announce its policy decision at 14:00 GMT.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0495 zone, 0.4% below its opening price. As for technical levels, immediate supports could be found at 1.0478 (daily low) and 1.0425 (21-day SMA), while resistances are now seen at 1.0510 (10-day SMA/former support) and 1.0540 (daily high).