Back
13 Sep 2013
USD/CAD choppy around 1.0340
FXstreet.com (Edinburgh) -The USD/CAD keeps meandering around 1.0330 and 1.0345 on Friday, keeping the bullish momentum and advancing for the second consecutive session.
USD/CAD supported at 1.0300
The pronounced decline since early September from levels around 1.0550 was well contained around 1.0300 the figure earlier on this week, sparking a bounce to the current area of 1.0340. G.Moore and S.Osborne, Strategists at TD Securities, commented, “The daily picture is not that different from the signals on the 6-hour chart—the market looks oversold and may be trying to turn up. We still think safer ground (neutral) for USD/CAD lies above 1.04 (40-day MA stands at 1.0387 today), bullish above 1.0445/50. Key daily support is 1.0250”.
USD/CAD relevant levels
At the moment the pair is up 0.16% at 1.0340 with the next hurdle at 1.0366 (high Sep.11) followed by 1.0380 (high Sep.10) and finally 1.0386 (cloud top). On the downside, a breach of 1.0306 (low Sep.12) would aim for 1.0292 (low Aug.16) and then 1.0275 (low Aug.9).
USD/CAD supported at 1.0300
The pronounced decline since early September from levels around 1.0550 was well contained around 1.0300 the figure earlier on this week, sparking a bounce to the current area of 1.0340. G.Moore and S.Osborne, Strategists at TD Securities, commented, “The daily picture is not that different from the signals on the 6-hour chart—the market looks oversold and may be trying to turn up. We still think safer ground (neutral) for USD/CAD lies above 1.04 (40-day MA stands at 1.0387 today), bullish above 1.0445/50. Key daily support is 1.0250”.
USD/CAD relevant levels
At the moment the pair is up 0.16% at 1.0340 with the next hurdle at 1.0366 (high Sep.11) followed by 1.0380 (high Sep.10) and finally 1.0386 (cloud top). On the downside, a breach of 1.0306 (low Sep.12) would aim for 1.0292 (low Aug.16) and then 1.0275 (low Aug.9).