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12 Jul 2013
USD/CAD retesting 1.0400 level
FXstreet.com (New York) - The USD/CAD foreign exchange rate has been unable to maintain a grip on the 1.0400 level Friday, instead oscillating in a narrow consolidation around this region during US trading.
Technically speaking, the USD/CAD is still trading positively at 1.0397, up +0.25% in these moments. The Mataf.net analyst team has identified resistances in the short-term at 1.0435, then 1.0490, and finally 1.0545.
USD/CAD strategic bias
According to the TD Securities Team, “Originally we thought the USD/CAD correction was nearing completion yesterday, however the spike in market volatility this week has driven funds quite significantly lower – and through what we had determined as the previous key support at 1.0421.”
Technically speaking, the USD/CAD is still trading positively at 1.0397, up +0.25% in these moments. The Mataf.net analyst team has identified resistances in the short-term at 1.0435, then 1.0490, and finally 1.0545.
USD/CAD strategic bias
According to the TD Securities Team, “Originally we thought the USD/CAD correction was nearing completion yesterday, however the spike in market volatility this week has driven funds quite significantly lower – and through what we had determined as the previous key support at 1.0421.”