4 Sep 2013
USD/CAD stretches to fresh lows
FXstreet.com (Córdoba) - The USD/CAD has had a volatile day with the BoC decision and broad USD weakness dragging the pair to fresh weekly lows during the American session.
USD/CAD weighed by BoC, Beige Book eyed
USD/CAD resumed the downside following a short-lived bounce, as the loonie was lifted by the BoC, and touched a fresh 1-week low of 1.0475 in recent dealings. Market attention now turns to the Fed Beige Book report for signs on when the central will start tapering its stimulus measures.
USD/CAD levels to watch
At time of writing, USD/CAD is trading at the 1.0480 zone, 0.5% below its opening price. As for technical levels, immediate supports could be found at 1.0475 (daily low) and 1.0425 (21-day SMA) ahead of 1.0400 (psychological level), while resistances are now seen at 1.0510 (10-day SMA/former support) and 1.0540 (daily high).
USD/CAD weighed by BoC, Beige Book eyed
USD/CAD resumed the downside following a short-lived bounce, as the loonie was lifted by the BoC, and touched a fresh 1-week low of 1.0475 in recent dealings. Market attention now turns to the Fed Beige Book report for signs on when the central will start tapering its stimulus measures.
USD/CAD levels to watch
At time of writing, USD/CAD is trading at the 1.0480 zone, 0.5% below its opening price. As for technical levels, immediate supports could be found at 1.0475 (daily low) and 1.0425 (21-day SMA) ahead of 1.0400 (psychological level), while resistances are now seen at 1.0510 (10-day SMA/former support) and 1.0540 (daily high).