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22 May 2013
USD/CAD- regaining some ground
FXstreet.com (London) - There seems to be a good apatite for the pair to continue higher with volume indicators behind yesterday’s new monthly high of 1.0321. The pair came into selling pressure with Corporates offers and profit taking.
The pair is inching up after it subsequently fell to 1.0245. It is currently trading at the time of writing 1.0285 as we approach Bernanke speaking coming up a little later on today. Tight ranges could be expected before Bernanke speaking, but there are Canadian March retail sales at 13:30 BST with low forecasts that are unlikely to surprise the market.
However, The resistance levels over and beyond the 1.0300 zone are sighted as the years highs at 1.0337/43. Downside support in funds comes 1.0257, on short-term trend line support and key support sighted at 1.0120/50 regions.
The pair is inching up after it subsequently fell to 1.0245. It is currently trading at the time of writing 1.0285 as we approach Bernanke speaking coming up a little later on today. Tight ranges could be expected before Bernanke speaking, but there are Canadian March retail sales at 13:30 BST with low forecasts that are unlikely to surprise the market.
However, The resistance levels over and beyond the 1.0300 zone are sighted as the years highs at 1.0337/43. Downside support in funds comes 1.0257, on short-term trend line support and key support sighted at 1.0120/50 regions.