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15 Aug 2013
USD/CAD, stalls at 1.0300 zone
FXstreet.com (Chicago) - USD/CAD cracked precipitously to 1.0300 bottoms after strong greenback weakening.
Price action reveals a sell off pulling the pair close to Monday’s start price. Trading at 1.0304, the pair is near immediate support at 1.0300 (July 30th highs) ahead of 1.0286 (July 27th highs) and 1.0273 (August 8th lows). On the upside, resistances are aligned at 1.0312 (July 30th highs), 1.0323 (July 10th lows) followed by 1.0331 (August 13th highs).
The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis. Down 0.32%, the pair has had a weak monthly performance as total losses for August add up to 1.14%. Market participants await for housing, consumer sentiment indexes, and productivity data in the US along foreign portfolio investments in Canada due tomorrow afternoon.
Price action reveals a sell off pulling the pair close to Monday’s start price. Trading at 1.0304, the pair is near immediate support at 1.0300 (July 30th highs) ahead of 1.0286 (July 27th highs) and 1.0273 (August 8th lows). On the upside, resistances are aligned at 1.0312 (July 30th highs), 1.0323 (July 10th lows) followed by 1.0331 (August 13th highs).
The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis. Down 0.32%, the pair has had a weak monthly performance as total losses for August add up to 1.14%. Market participants await for housing, consumer sentiment indexes, and productivity data in the US along foreign portfolio investments in Canada due tomorrow afternoon.