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12 Aug 2013
USD/CAD testing the 1.0300 level
FXstreet.com (New York) - The USD/CAD foreign exchange rate has moved to the 1.0300 region Monday, clinging to this barrier despite earlier drops below it (1.0279 session low).
USD/CAD strategic bias
Technically speaking, the USD/CAD is now trading at 1.0298, presently incurring a marginal loss of -0.02% off its opening. The Mataf.net analyst team points to supportive means at 1.0297, ahead of 1.0257, and 1.0228.
According to the TD Securities Team, “The USD/CAD has traded higher from Friday’s low, leaving the late-July/early-August trading range firmly intact. The pair’s failure to follow through on some of the bullish signals from early last week was a disappointment to USD/CAD bulls, and while price action is looking more neutral in the short and medium term perspective, our broader bias remains higher still as long as the 1.0250 support holds in the coming days. On the topside, there is a little more room for movement, with key resistance further away in the 1.0440/45 area.”
USD/CAD strategic bias
Technically speaking, the USD/CAD is now trading at 1.0298, presently incurring a marginal loss of -0.02% off its opening. The Mataf.net analyst team points to supportive means at 1.0297, ahead of 1.0257, and 1.0228.
According to the TD Securities Team, “The USD/CAD has traded higher from Friday’s low, leaving the late-July/early-August trading range firmly intact. The pair’s failure to follow through on some of the bullish signals from early last week was a disappointment to USD/CAD bulls, and while price action is looking more neutral in the short and medium term perspective, our broader bias remains higher still as long as the 1.0250 support holds in the coming days. On the topside, there is a little more room for movement, with key resistance further away in the 1.0440/45 area.”