9 Jul 2013
USD/CAD bottoms out at support
FXstreet.com (New York) - The USD/CAD foreign exchange rate bottomed out recently at 1.0523 (intraday low) Tuesday, having moved earlier on upbeat Canadian data.
Earlier today in Canada, Housing Starts s.a (YoY) were reported at 199.6K in June, having exceeded expectations of only 187.0K, and compared with a figure of 204.6K in May.
USD/CAD touches support
In these moments, the USD/CAD is now trading at 1.0530 during US trading, incurring a loss -0.25% off its opening. Mataf.net analysts identify the next short-term measures of support at 1.0528, then 1.0510. Meanwhile, resistance lies higher at 1.0588, onto 1.0606, and 1.0627.
USD/CAD trading above 1.0485 will extend bullishness
According to the Technical Analyst Team at ICN.com, “The USD/CAD’s trading is biased negatively in response to some of the negative signals shown on RSI after failing to stabilize above line 70. Trading above 1.0485 will extend bullishness in the upcoming period.”
Earlier today in Canada, Housing Starts s.a (YoY) were reported at 199.6K in June, having exceeded expectations of only 187.0K, and compared with a figure of 204.6K in May.
USD/CAD touches support
In these moments, the USD/CAD is now trading at 1.0530 during US trading, incurring a loss -0.25% off its opening. Mataf.net analysts identify the next short-term measures of support at 1.0528, then 1.0510. Meanwhile, resistance lies higher at 1.0588, onto 1.0606, and 1.0627.
USD/CAD trading above 1.0485 will extend bullishness
According to the Technical Analyst Team at ICN.com, “The USD/CAD’s trading is biased negatively in response to some of the negative signals shown on RSI after failing to stabilize above line 70. Trading above 1.0485 will extend bullishness in the upcoming period.”