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19 Apr 2013
Forex: USD/CAD establishing fresh lows at 1.0231/35
FXstreet.com (Barcelona) - The USD/CAD has operated in a rather narrow 35-pip consolidation Friday (1.0231 - 1.0266). However during European trading, the cross has bottomed out at session lows, testing support at the 1.0231/35 level, off -0.25% from its opening.
Mataf.net analysts calculate the means of supportive correction at 1.0232, ahead of 1.0207, and 1.0185. Conversely, a break above 1.0279 will initiate resistive measures at 1.0301 and 1.0326.
“The USD/CAD is extending the sideways trading with some negative pressure since trading opened today affected by the negativity shown on the stochastic. Generally, stability above 1.0185 forces us to extend our upside expectations targeting 10295 levels.” warns the ICN.com analyst team.
Later today at 12:30 GMT, investors will learn of a tranche of economic indicators in Canada, including key CPI figures, measuring for inflation.
Mataf.net analysts calculate the means of supportive correction at 1.0232, ahead of 1.0207, and 1.0185. Conversely, a break above 1.0279 will initiate resistive measures at 1.0301 and 1.0326.
“The USD/CAD is extending the sideways trading with some negative pressure since trading opened today affected by the negativity shown on the stochastic. Generally, stability above 1.0185 forces us to extend our upside expectations targeting 10295 levels.” warns the ICN.com analyst team.
Later today at 12:30 GMT, investors will learn of a tranche of economic indicators in Canada, including key CPI figures, measuring for inflation.