28 Jun 2013
USD/CAD rescinding recent gains
FXstreet.com (New York) - The USD/CAD foreign exchange rate eased off of earlier highs at 1.0555, paring its gains whilst remaining entrenched above the 1.0500 barrier Friday.
USD/CAD poised for higher push despite consolidation
“This week’s USD/CAD consolidation still leaves the market poised to move up, possibly significantly so, if it can clear resistance in the 1.0500 area intraday. Meanwhile, the ley short-term support remains 1.0420.” notes the TD Securities Team.
USD/CAD retreats off resistance
Technically speaking, the pair is operating at 1.0512, still up a steadfast +0.33% in these moments. The USD/CAD will look towards resistances at 1.0524, then 1.0554 (session high), and finally 1.0604. Alternatively, an extension lower will initiate supports at 1.0444, ahead of 1.0394, and 1.0364, calculates the Mataf.net analyst team.
USD/CAD poised for higher push despite consolidation
“This week’s USD/CAD consolidation still leaves the market poised to move up, possibly significantly so, if it can clear resistance in the 1.0500 area intraday. Meanwhile, the ley short-term support remains 1.0420.” notes the TD Securities Team.
USD/CAD retreats off resistance
Technically speaking, the pair is operating at 1.0512, still up a steadfast +0.33% in these moments. The USD/CAD will look towards resistances at 1.0524, then 1.0554 (session high), and finally 1.0604. Alternatively, an extension lower will initiate supports at 1.0444, ahead of 1.0394, and 1.0364, calculates the Mataf.net analyst team.