29 Jul 2013
USD/CAD hits 6-week low
FXstreet.com (Córdoba) - The USD/CAD took another step lower on Monday and fell to its lowest in 6 weeks during the American session.
USD/CAD extended its decline into a third day and having broken below the 100-day SMA and printed its lowest since June 19 at 1.0252, a few pips below last week’s trough. At time of writing, USD/CAD is trading at the 1.0260 zone, still down 0.2% on the day.
USD/CAD steady ahead of key data
However and despite having reached fresh lows, the pair remains pretty steady ahead of key events later this week, including Canadian GDP for May, Q2 GDP for the US, and the Federal Reserve's policy statement Wednesday.
USD/CAD levels to watch
In terms of technical levels, immediate supports are seen at 1.0252 (daily low) and 1.0200 (psychological level), while resistances could be faced at and 1.0265 (100-day SMA) and 1.0285 (100-hour SMA).
USD/CAD extended its decline into a third day and having broken below the 100-day SMA and printed its lowest since June 19 at 1.0252, a few pips below last week’s trough. At time of writing, USD/CAD is trading at the 1.0260 zone, still down 0.2% on the day.
USD/CAD steady ahead of key data
However and despite having reached fresh lows, the pair remains pretty steady ahead of key events later this week, including Canadian GDP for May, Q2 GDP for the US, and the Federal Reserve's policy statement Wednesday.
USD/CAD levels to watch
In terms of technical levels, immediate supports are seen at 1.0252 (daily low) and 1.0200 (psychological level), while resistances could be faced at and 1.0265 (100-day SMA) and 1.0285 (100-hour SMA).