11 Jun 2013
USD/CAD in highs above 1.0200
FXstreet.com (Barcelona) - The sell-off in the comm-bloc currencies is accelerating on Tuesday, now quickly dragging the Canadian dollar to fresh lows against the buck around 1.0220/25.
According to G.Yu and G.Berry, Strategists at UBS, “The recent sharp sell-off tested support at 1.0169, a closing break below this would be negative, triggering a deeper sell-off to 1.0120 and then 1.0027. Resistance is at 1.0224”. It is worth noting the the Swiss lender keeps a neutral outlook on the pair.
USD/CAD is now advancing 0.26% at 1.0222 and a surpass of 1.0275 (MA21d) would open the door to 1.0288 (high Jun.7) and finally 1.0303 (MA10d). On the flip side, support levels align at 1.0169 (61.8% of 1.0014-1.0421) followed by 1.0166 (low Jun.7) and then 1.0149 (low May 16).
According to G.Yu and G.Berry, Strategists at UBS, “The recent sharp sell-off tested support at 1.0169, a closing break below this would be negative, triggering a deeper sell-off to 1.0120 and then 1.0027. Resistance is at 1.0224”. It is worth noting the the Swiss lender keeps a neutral outlook on the pair.
USD/CAD is now advancing 0.26% at 1.0222 and a surpass of 1.0275 (MA21d) would open the door to 1.0288 (high Jun.7) and finally 1.0303 (MA10d). On the flip side, support levels align at 1.0169 (61.8% of 1.0014-1.0421) followed by 1.0166 (low Jun.7) and then 1.0149 (low May 16).