25 Jun 2014
USD/CAD retaining a heavy bias
FXStreet (Guatemala) - USD/CAD is trading at 1.0718, down -0.22% on the day, having posted a daily high at 1.0753 and low at 1.0716.
Analysts at TD Securities explained the USD/CAD retains a heavy bias overall. “The mild USD bid tone that emerged yesterday failed to extend significantly, with the rally stalling around short-term congestion in the mid 1.07s overnight. The USD continues to generate support in the low 1.07 area but the overall tone here remains soft. Trend momentum remains bearishly aligned, which will effectively limit near-term bounces”.
USD/CAD Levels
Spot is presently trading at 1.0720, and next resistance can be seen at 1.0722 (Daily Classic S1), 1.0732 (Monthly Low), 1.0732 (Weekly Low), 1.0734 (Daily Classic PP) and 1.0735 (Hourly 20 EMA). Support below can be found at 1.0716 (Daily Low), 1.0712 (Yesterday's Low), 1.0705 (Weekly Classic S1), 1.0699 (Daily Classic S2) and 1.0687 (Daily Classic S3).
Analysts at TD Securities explained the USD/CAD retains a heavy bias overall. “The mild USD bid tone that emerged yesterday failed to extend significantly, with the rally stalling around short-term congestion in the mid 1.07s overnight. The USD continues to generate support in the low 1.07 area but the overall tone here remains soft. Trend momentum remains bearishly aligned, which will effectively limit near-term bounces”.
USD/CAD Levels
Spot is presently trading at 1.0720, and next resistance can be seen at 1.0722 (Daily Classic S1), 1.0732 (Monthly Low), 1.0732 (Weekly Low), 1.0734 (Daily Classic PP) and 1.0735 (Hourly 20 EMA). Support below can be found at 1.0716 (Daily Low), 1.0712 (Yesterday's Low), 1.0705 (Weekly Classic S1), 1.0699 (Daily Classic S2) and 1.0687 (Daily Classic S3).