Back
6 May 2013
Forex: USD/CAD remains rangebound below 1.0100
FXstreet.com (Córdoba) - The USD/CAD remained little changed as the US dollar failed to benefit from much-weaker-than-expected Canadian Ivey PMI. The indicator came in at 52.2 (seasonally adjusted) against the 58.3 expected.
However, USD/CAD moved only a few pips on the release in a quiet session. At time of writing, USD/CAD is trading around 1.0085/90, still 0.2% above its opening price.
As for technical levels, immediate resistances are seen at 1.0100 (psychological level) and 1.0140 (10-day SMA). On the downside, supports could be found at 1.0060 (200-day SMA) and 1.0050 (low May 1).
However, USD/CAD moved only a few pips on the release in a quiet session. At time of writing, USD/CAD is trading around 1.0085/90, still 0.2% above its opening price.
As for technical levels, immediate resistances are seen at 1.0100 (psychological level) and 1.0140 (10-day SMA). On the downside, supports could be found at 1.0060 (200-day SMA) and 1.0050 (low May 1).