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12 Nov 2014
USD/CAD breaks below 1.1300
FXStreet (Edinburgh) - The selling interest is growing bigger around the greenback on Wednesday, with USD/CAD pushing lower to sub-1.1300 levels.
USD/CAD in multi-day lows near 1.1290
The pair is back to levels last seen at the beginning of November around 1.1290 following the offered tone around the US dollar. Nothing relevant in the US/Canadian dockets, with only Mortgage Applications by MBA dropping 0.9% in the week ending on November 7th. According to Strategists at TD Securities, “We think the key pivot point for the market is still 1.1295—look for losses to extend to the mid/upper 1.12s on a break lower or for spot to rebound towards the high 1.13s again if support holds”.
USD/CAD levels to watch
The pair is now losing 0.19% en 1.1306 with the immediate support at 1.1274 (Kijun Sen) and then 1.1264 (low Nov.3). On the upside, a breakout of 1.1359 (high Nov.12) would target 1.1402 (high Nov.11) en route to 1.1450 (high Nov.7).
USD/CAD in multi-day lows near 1.1290
The pair is back to levels last seen at the beginning of November around 1.1290 following the offered tone around the US dollar. Nothing relevant in the US/Canadian dockets, with only Mortgage Applications by MBA dropping 0.9% in the week ending on November 7th. According to Strategists at TD Securities, “We think the key pivot point for the market is still 1.1295—look for losses to extend to the mid/upper 1.12s on a break lower or for spot to rebound towards the high 1.13s again if support holds”.
USD/CAD levels to watch
The pair is now losing 0.19% en 1.1306 with the immediate support at 1.1274 (Kijun Sen) and then 1.1264 (low Nov.3). On the upside, a breakout of 1.1359 (high Nov.12) would target 1.1402 (high Nov.11) en route to 1.1450 (high Nov.7).