22 Oct 2013
USD/CAD wavers after NFP, Canadian sales
FXstreet.com (Córdoba) - The USD/CAD wavered between gains and losses to finally move lower after US nonfarm payrolls came in below expectations while Canadian retail sales also disappointed.
USD/CAD jumped to a high of 1.0307 right after the data but quickly turned south and dropped to a fresh 4-day low of 1.0280 before finding support. Even though the greenback saw steeper losses versus other rivals, USD/CAD drop was tempered by soft Canadian data.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0290 zone, 0.1% below its opening price with immediate supports at 1.0280 (daily low) and 1.0260 (200-day SMA), and resistances lining up at 1.0310 (daily high) and 1.0325 (21-day SMA).
USD/CAD jumped to a high of 1.0307 right after the data but quickly turned south and dropped to a fresh 4-day low of 1.0280 before finding support. Even though the greenback saw steeper losses versus other rivals, USD/CAD drop was tempered by soft Canadian data.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0290 zone, 0.1% below its opening price with immediate supports at 1.0280 (daily low) and 1.0260 (200-day SMA), and resistances lining up at 1.0310 (daily high) and 1.0325 (21-day SMA).