22 Oct 2013
USD/CAD hits 1-month low
FXstreet.com (Córdoba) - The USD/CAD fell to a fresh 1 month low during the New York session as the USD sell-off intensified after a below expectations NFP reading.
The USD/CAD broke below last week's low and bottomed out at 1.0370, last seen Sep 24, before recovering slightly. At time of writing, USD/CAD is trading at 1.0285, recording a 0.1% loss on the day. CAD gains however, were tempered by disappointing domestic retail sales, which grew 0.2% in August versus 0.3% expected.
USD/CAD technical levels
As for technical levels, immediate supports at 1.0280 (daily low) and 1.0260 (200-day SMA), and resistances lining up at 1.0310 (daily high) and 1.0325 (21-day SMA).
The USD/CAD broke below last week's low and bottomed out at 1.0370, last seen Sep 24, before recovering slightly. At time of writing, USD/CAD is trading at 1.0285, recording a 0.1% loss on the day. CAD gains however, were tempered by disappointing domestic retail sales, which grew 0.2% in August versus 0.3% expected.
USD/CAD technical levels
As for technical levels, immediate supports at 1.0280 (daily low) and 1.0260 (200-day SMA), and resistances lining up at 1.0310 (daily high) and 1.0325 (21-day SMA).