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13 Aug 2013
USD/CAD snaps back up 1.0345 zone
FXstreet.com (Chicago) - USD/CAD reiterates hawkish stance on the greenback to sum 0.33% daily gains.
Fed’s Lockhart’s comments fueled bullish sentiment among market participants. Wall Street soared on unclear comments about discontinuation of billionaire stimulus. No major official data was released in Canada to outweigh retail sales results, import and export price data along Redbook indexes. To highlight, retail sales data was 0.2% vs. expected 0.3% although retail sales ex Autos was up 0.1% compared to 0.4% estimates.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0345, between supports at 1.0331 (July 19th lows), 1.0323 (July 24th highs) and 1.0312 (July 22nd highs) and resistances aligned at 1.0349 (July 12th lows), 1.0360 (July 11th lows) and 1.0373 (July 9th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis as the pair navigates above key 20EMA.
Fed’s Lockhart’s comments fueled bullish sentiment among market participants. Wall Street soared on unclear comments about discontinuation of billionaire stimulus. No major official data was released in Canada to outweigh retail sales results, import and export price data along Redbook indexes. To highlight, retail sales data was 0.2% vs. expected 0.3% although retail sales ex Autos was up 0.1% compared to 0.4% estimates.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0345, between supports at 1.0331 (July 19th lows), 1.0323 (July 24th highs) and 1.0312 (July 22nd highs) and resistances aligned at 1.0349 (July 12th lows), 1.0360 (July 11th lows) and 1.0373 (July 9th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis as the pair navigates above key 20EMA.