9 May 2014
USD/CAD finds solid ground on 1.0900
FXStreet (Guatemala) - USD/CAD is trading at 1.0902, up 0.67% on the day, having posted a daily high at 1.0917 and low at 1.0813.
USD/CAD has jumped up to the 1.09 handle post terrible employment data in Canada, although strategists at TD Securities explained that the odds probably favour more USD softness near-term as trend momentum signals are bearishly aligned on the daily/weekly charts. “But a clear push back above 1.0960 would be technically USD-positive”.
USD/CAD Levels
With spot trading at 1.0903, we can see next resistance ahead at 1.0905 (Yesterday's High), 1.0917 (Daily High), 1.0925 (Weekly Classic S1), 1.0930 (Hourly 200 SMA) and 1.0942 (Daily Classic R2). Support below can be found at 1.0892 (Hourly 100 SMA), 1.0887 (Daily Classic R1), 1.0876 (Weekly Classic S2), 1.0856 (Hourly 20 EMA) and 1.0849 (Daily Classic PP).
USD/CAD chart formations
Looking to candlestick patterns, we can see a Piercing Line formation on the 1-hour chart.
USD/CAD has jumped up to the 1.09 handle post terrible employment data in Canada, although strategists at TD Securities explained that the odds probably favour more USD softness near-term as trend momentum signals are bearishly aligned on the daily/weekly charts. “But a clear push back above 1.0960 would be technically USD-positive”.
USD/CAD Levels
With spot trading at 1.0903, we can see next resistance ahead at 1.0905 (Yesterday's High), 1.0917 (Daily High), 1.0925 (Weekly Classic S1), 1.0930 (Hourly 200 SMA) and 1.0942 (Daily Classic R2). Support below can be found at 1.0892 (Hourly 100 SMA), 1.0887 (Daily Classic R1), 1.0876 (Weekly Classic S2), 1.0856 (Hourly 20 EMA) and 1.0849 (Daily Classic PP).
USD/CAD chart formations
Looking to candlestick patterns, we can see a Piercing Line formation on the 1-hour chart.