20 Jun 2014
USD/CAD breaking the channel support
FXStreet (Guatemala) - USD/CAD is trading at 1.0762, down -0.48% on the day, having posted a daily high at 1.0828 and low at 1.0750.
On the CPI upticks in Canada, USD/CAD is well below the 1.08 handle having lost the levels that had been in consolidation since May within a channel that has now been broken and allows room for the pair to sink until December resistance lines of 1.0740. Meanwhile, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/CAD Levels
With spot trading at 1.0765, we can see next resistance ahead at 1.0775 (Weekly Classic S2), 1.0780 (Daily 200 SMA), 1.0784 (Daily Classic S2), 1.0801 (Daily Classic S1) and 1.0806 (Yesterday's Low). Support below can be found at 1.0763 (Daily Classic S3), 1.0750 (Daily Low), 1.0710 (Weekly Classic S3), 1.0639 (YTD Low) and 1.0221 (Annual Low).
On the CPI upticks in Canada, USD/CAD is well below the 1.08 handle having lost the levels that had been in consolidation since May within a channel that has now been broken and allows room for the pair to sink until December resistance lines of 1.0740. Meanwhile, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/CAD Levels
With spot trading at 1.0765, we can see next resistance ahead at 1.0775 (Weekly Classic S2), 1.0780 (Daily 200 SMA), 1.0784 (Daily Classic S2), 1.0801 (Daily Classic S1) and 1.0806 (Yesterday's Low). Support below can be found at 1.0763 (Daily Classic S3), 1.0750 (Daily Low), 1.0710 (Weekly Classic S3), 1.0639 (YTD Low) and 1.0221 (Annual Low).