23 Apr 2014
USD/CAD retreats from highs
FXStreet (Edinburgh) - The USD/CAD is now deflating to the 1.1030 area, coming down after posting fresh intraday highs just below 1.1050.
USD/CAD focus on CAD retail sales
The pair is prolonging its rebound from recent troughs around 1.0850, pointing to regain the mid-1.1000 region ahead of Canadian docket. Retail Sales in Canada are due next with consensus expecting a monthly expansion of 0.4% in February and 0.5% excluding the auto sector. “ we expect support at about 1.100 and resistance at 1.107 to contain movements in the pair if the result is outside of the neutral range”, commented Stephen Gallo, Europen Head, FX Strategy at BMO.
USD/CAD significant levels
The pair is now up 0.05% at 1.1032 with the next resistance at 1.1052 (30-d MA) ahead of 1.1053 (55-d MA) and finally 1.1054 (daily clod top). On the downside, a break below 1.1009 (21-d MA) would expose 1.1000 (low Apr.22) and then 1.0983 (low Apr.17).
USD/CAD focus on CAD retail sales
The pair is prolonging its rebound from recent troughs around 1.0850, pointing to regain the mid-1.1000 region ahead of Canadian docket. Retail Sales in Canada are due next with consensus expecting a monthly expansion of 0.4% in February and 0.5% excluding the auto sector. “ we expect support at about 1.100 and resistance at 1.107 to contain movements in the pair if the result is outside of the neutral range”, commented Stephen Gallo, Europen Head, FX Strategy at BMO.
USD/CAD significant levels
The pair is now up 0.05% at 1.1032 with the next resistance at 1.1052 (30-d MA) ahead of 1.1053 (55-d MA) and finally 1.1054 (daily clod top). On the downside, a break below 1.1009 (21-d MA) would expose 1.1000 (low Apr.22) and then 1.0983 (low Apr.17).