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27 Mar 2014
USD/CAD on the ground
FXStreet (Guatemala) - USD/CAD has lost some momentum here after a slide from 1.1100 to test the mid point of 1.10 handle.
USD/CAD has extended the downside on the week and 1.1200 seems a distant level from below 1.1100 currently while the pair trades heavily. Meanwhile, the US came out with Initial Jobless Claims 311k vs 325k consensus and Continuing Jobless Claims 2.823m vs 2.875m consensus. PCE was noted .1% better than expected as well
USD/CAD strong intraday support
Strategists at TD Securities explained that sell-off in funds is taking the market back deeper into last week’s rally territory which makes it a little harder to characterize the drop as merely corrective. “Intraday support should firm up in the 1.1020/40 area from here”.
USD/CAD Levels
The 20 DMA is 1.1115, the 50 DMA is 1.1080 and the 200 DMA is 1.0621. RSI (14) reads 33.08. Supports are ascending from 1.0980, 1.1006 and 1.1025. Spot is 1.1060 while resistances are 1.1095, 1.1122, 1.1170, 1.1183 and 1.1211.
USD/CAD has extended the downside on the week and 1.1200 seems a distant level from below 1.1100 currently while the pair trades heavily. Meanwhile, the US came out with Initial Jobless Claims 311k vs 325k consensus and Continuing Jobless Claims 2.823m vs 2.875m consensus. PCE was noted .1% better than expected as well
USD/CAD strong intraday support
Strategists at TD Securities explained that sell-off in funds is taking the market back deeper into last week’s rally territory which makes it a little harder to characterize the drop as merely corrective. “Intraday support should firm up in the 1.1020/40 area from here”.
USD/CAD Levels
The 20 DMA is 1.1115, the 50 DMA is 1.1080 and the 200 DMA is 1.0621. RSI (14) reads 33.08. Supports are ascending from 1.0980, 1.1006 and 1.1025. Spot is 1.1060 while resistances are 1.1095, 1.1122, 1.1170, 1.1183 and 1.1211.