27 Jun 2014
USD/CAD hits last outpost of support -TDS
FXStreet (Guatemala) - USD/CAD has slid below daily support in the low 1.07 area which is really the last outpost of support.
Key Quotes:
“USD/CAD has slid below daily support in the low 1.07 area which is really the last outpost of support for the USD ahead of a drop back to the 1.0600/50 area”.
“The USD continues to look oversold—by a significant margin—on the daily and weekly slow stochastic oscillator but these indications are warnings only that the market sell-off looks (very) stretched. There is nothing that we see in the price action that might suggest a reversal is imminent”.
Key Quotes:
“USD/CAD has slid below daily support in the low 1.07 area which is really the last outpost of support for the USD ahead of a drop back to the 1.0600/50 area”.
“The USD continues to look oversold—by a significant margin—on the daily and weekly slow stochastic oscillator but these indications are warnings only that the market sell-off looks (very) stretched. There is nothing that we see in the price action that might suggest a reversal is imminent”.