9 Aug 2013
USD/CAD free falls below 1.0350
FXstreet.com (Barcelona) - The USD/CAD foreign exchange rate is last quoted at 1.0323 bids, off recent fresh weekly lows at 1.0304, following a massive fall coming from daily highs above 1.0430.
USD/CAD lower ahead of CAD jobs
“The Canadian dollar joined in the USD rout ahead of tomorrows employment report,” said analyst at ForexLive Adam Button, adding: “It was a one-way street in USD/CAD in a slow, steady bleed that looked suspiciously like a large corporate order. It turned into the best day for the loonie since 2012.” The USD/CAD is down -0.63% for the week so far, ahead of later on Canada unemployment rate at 12:30 GMT.
USD/CAD key technical levels
Immediate support to the downside for USD/CAD lies at recent session/weekly lows 1.0302, followed by July 23 lows at 1.0277, and July 24/August 01 lows at 1.0261. To the upside, closest resistance shows at Tuesday's lows 1.0347, followed by July 12/17 lows at 1.0358, and Monday's/past Friday's highs at 1.0403.
USD/CAD lower ahead of CAD jobs
“The Canadian dollar joined in the USD rout ahead of tomorrows employment report,” said analyst at ForexLive Adam Button, adding: “It was a one-way street in USD/CAD in a slow, steady bleed that looked suspiciously like a large corporate order. It turned into the best day for the loonie since 2012.” The USD/CAD is down -0.63% for the week so far, ahead of later on Canada unemployment rate at 12:30 GMT.
USD/CAD key technical levels
Immediate support to the downside for USD/CAD lies at recent session/weekly lows 1.0302, followed by July 23 lows at 1.0277, and July 24/August 01 lows at 1.0261. To the upside, closest resistance shows at Tuesday's lows 1.0347, followed by July 12/17 lows at 1.0358, and Monday's/past Friday's highs at 1.0403.