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12 Jun 2013
USD/CAD falls to 1.0182 level
FXstreet.com (New York) - The USD/CAD has turned negative, finally paring the last of its gains Wednesday and falling 1.0182 level during US trading.
USD/CAD sustains weak momentum indicators
According to the TD Securities Team, “The USD/CAD continues to hold retracement support at 1.0169 (61.8% of the 1.00/1.04 rally). However, short-term technical patterns are equivocal – downside follow through has been limited, which suggests weak momentum for an extension lower to the 1.01 area as corporate USD buyers step up.”
Amidst this recent downside, the USD/CAD is trading negatively at -0.10% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CAD will face calculated short-term supports at 1.0160, then 1.0129 and finally 1.0084. Alternatively, resistances will be seen higher at 1.0236, onto 1.0281, and 1.0312.
USD/CAD sustains weak momentum indicators
According to the TD Securities Team, “The USD/CAD continues to hold retracement support at 1.0169 (61.8% of the 1.00/1.04 rally). However, short-term technical patterns are equivocal – downside follow through has been limited, which suggests weak momentum for an extension lower to the 1.01 area as corporate USD buyers step up.”
Amidst this recent downside, the USD/CAD is trading negatively at -0.10% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CAD will face calculated short-term supports at 1.0160, then 1.0129 and finally 1.0084. Alternatively, resistances will be seen higher at 1.0236, onto 1.0281, and 1.0312.