9 Apr 2014
USD/CAD feeling the pressure
FXStreet (Guatemala) - Currently, USD/CAD is trading at 1.0922, up 0.03% on the day, having posted a daily high at 1.0927 and low at 1.0922.
Regardless of poor data from Canada, the pair remains on the offer after an attempt through 0.9040. Housing starts for March year on year were 156.8k vs 191.0k consensus. Building permits disappointed at -11.6% vs a consensus of -2.7%. Strategists at TD Securities explained, “USD/CAD remains under pressure; new cycle lows (below 1.0910) will open up the downside for more losses near-term”.
Daily RSI sits at 38.91, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 1.0964, down from the last close at 1.1019 and declining. Over the past 20 days, the exponential average closing price is 1.1067, and trending lower.
USD/CAD Levels
Spot is presently trading at 1.0925, and next resistance can be seen at 1.0927 (Daily High), 1.0932 (Daily Classic S2), 1.0935 (Weekly Classic S1), 1.0940 (Hourly 20 EMA) and 1.0954 (Daily Classic S1). Next support to the downside can be found at 1.0923 (Daily Open), 1.0922 (Daily Low), 1.0911 (Yesterday's Low), 1.0904 (Daily Classic S3) and 1.0898 (Daily 100 SMA).
Regardless of poor data from Canada, the pair remains on the offer after an attempt through 0.9040. Housing starts for March year on year were 156.8k vs 191.0k consensus. Building permits disappointed at -11.6% vs a consensus of -2.7%. Strategists at TD Securities explained, “USD/CAD remains under pressure; new cycle lows (below 1.0910) will open up the downside for more losses near-term”.
Daily RSI sits at 38.91, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 1.0964, down from the last close at 1.1019 and declining. Over the past 20 days, the exponential average closing price is 1.1067, and trending lower.
USD/CAD Levels
Spot is presently trading at 1.0925, and next resistance can be seen at 1.0927 (Daily High), 1.0932 (Daily Classic S2), 1.0935 (Weekly Classic S1), 1.0940 (Hourly 20 EMA) and 1.0954 (Daily Classic S1). Next support to the downside can be found at 1.0923 (Daily Open), 1.0922 (Daily Low), 1.0911 (Yesterday's Low), 1.0904 (Daily Classic S3) and 1.0898 (Daily 100 SMA).