Back
5 Jul 2013
USD/CAD testing 1.0600 barrier
FXstreet.com (New York) - The USD/CAD foreign exchange rate has bulled ahead Friday, breaching the 1.0600 barrier and establishing fresh highs at 1.0611 during US trading.
In Canada, Unemployment Rate was held at 7.1% in June, in line with expectations. Moreover, the Net Change in Employment (June) yielded -0.4K in June, against estimates of -2.5K. The Ivey Purchasing Managers Index s.a. (June) was reported at 55.3, missing projections of 57.0. Finally, the Ivey Purchasing Managers Index (June) came in at 56.6, relative to 70.8 previously.
USD/CAD trading at resistance
At the time of writing, the USD/CAD is trading at 1.0601, sustaining a sizable thrust of +0.79% during US trading. Following a jump above calculated resistance at 1.0564, the Mataf.net analyst team identifies the next upward measures of correction at 1.0603, then 1.0649.
USD/CAD needs to sustain 1.0600 level
According to the TD Securities Team, “The USD/CAD has bumped up against the upper bound resistance near 1.0550/60 several times – breaking through recently, however a lack of follow through leaves the neutral trend intact for now.”
In Canada, Unemployment Rate was held at 7.1% in June, in line with expectations. Moreover, the Net Change in Employment (June) yielded -0.4K in June, against estimates of -2.5K. The Ivey Purchasing Managers Index s.a. (June) was reported at 55.3, missing projections of 57.0. Finally, the Ivey Purchasing Managers Index (June) came in at 56.6, relative to 70.8 previously.
USD/CAD trading at resistance
At the time of writing, the USD/CAD is trading at 1.0601, sustaining a sizable thrust of +0.79% during US trading. Following a jump above calculated resistance at 1.0564, the Mataf.net analyst team identifies the next upward measures of correction at 1.0603, then 1.0649.
USD/CAD needs to sustain 1.0600 level
According to the TD Securities Team, “The USD/CAD has bumped up against the upper bound resistance near 1.0550/60 several times – breaking through recently, however a lack of follow through leaves the neutral trend intact for now.”