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14 Aug 2013
USD/CAD supported 1.0350
FXstreet.com (Barcelona) - USD/CAD has made a high of 1.0375 and is continuing to be supported at 1.0350.
The US dollar is still trading firmly bid following the release of positive US retail sales for July. The BoC report is due tomorrow, but in the main the market will focus on US jobs data towards the end of the week and CPI.
USD/CAD targets 1.0425
USD/CAD targets the 50% correction at 1.0425 and looks for a consolidation above there to confirm the potential for the 78.6% at target at 1.0530. The 20 dma is 1.0330, the 50 dma is 1.0363 and the 200 dma comes as 1.0152. RSI (9) reads 50.40. Supports are ascending from 1.0150, 1.0170, 1.0245, 1.0265, Spot is currently 1.0350. Resistances are 1.0405 ,1.0430, 1.0445 and 1.0472.
The US dollar is still trading firmly bid following the release of positive US retail sales for July. The BoC report is due tomorrow, but in the main the market will focus on US jobs data towards the end of the week and CPI.
USD/CAD targets 1.0425
USD/CAD targets the 50% correction at 1.0425 and looks for a consolidation above there to confirm the potential for the 78.6% at target at 1.0530. The 20 dma is 1.0330, the 50 dma is 1.0363 and the 200 dma comes as 1.0152. RSI (9) reads 50.40. Supports are ascending from 1.0150, 1.0170, 1.0245, 1.0265, Spot is currently 1.0350. Resistances are 1.0405 ,1.0430, 1.0445 and 1.0472.