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12 Jun 2013
USD/CAD struggling around 1.0200
FXstreet.com (Barcelona) - After bottoming in the vicinity of 1.0160 on Wednesday, buying interest lifted the USD/CAD back around 1.0200 the figure, although faltering soon after.
USD/CAD stance points to further gains
“USD/CAD remains under some pressure below 1.02 but we continue to believe that the US’s growth advantage over Europe and Japan plus the prospect of Fed tapering should provide the USD with some general underpinning… We still rather look for opportunities to buy USD/CAD below 1.02”, suggested S.Osborne and G.Moore, FX Strategists at TD Securities.
USD/CAD key levels
At the moment, the pair is losing 0.01% at 1.0187 with the next support at 1.0149 (low May 16) ahead of 1.0090 (low May 14) and finally 1.0064 (low May 10). On the flip side, a breakout of 1.0216 (high Jun.12) would open the door to 1.0264 (MA10d) and then 1.0280 (MA21d).
USD/CAD stance points to further gains
“USD/CAD remains under some pressure below 1.02 but we continue to believe that the US’s growth advantage over Europe and Japan plus the prospect of Fed tapering should provide the USD with some general underpinning… We still rather look for opportunities to buy USD/CAD below 1.02”, suggested S.Osborne and G.Moore, FX Strategists at TD Securities.
USD/CAD key levels
At the moment, the pair is losing 0.01% at 1.0187 with the next support at 1.0149 (low May 16) ahead of 1.0090 (low May 14) and finally 1.0064 (low May 10). On the flip side, a breakout of 1.0216 (high Jun.12) would open the door to 1.0264 (MA10d) and then 1.0280 (MA21d).