16 Jan 2014
USD/CAD declines to challenge 1.09 handle
FXstreet.com (Guatemala) - USD/CAD move lower on 1.09 handle is being held up on support 1.0905.
The US data came in the form of Jobless Claims which disappointed, Consumer Prices rising 1.5% and in line year on year and Tic flows $-29.3B.
Strategists at TD Securities noted that intraday, they look for support in the low 1.09 area, stronger at 1.0880. “We prefer the long side of the USDCAD trade ahead of next week’s BoC meeting.”
USD/CAD Levels
The 20 DMA is 1.0723, the 50 DMA is 1.0624 and the 200 DMA is 1.0404. RSI (14) reads 75.17. Supports are 1.0737, 1.0819,1.0836, 1.0875, and 1.0905. Spot is 1.0914 while resistances are 1.0996, 1.1075, 1.1103 and 1.1126.
The US data came in the form of Jobless Claims which disappointed, Consumer Prices rising 1.5% and in line year on year and Tic flows $-29.3B.
Strategists at TD Securities noted that intraday, they look for support in the low 1.09 area, stronger at 1.0880. “We prefer the long side of the USDCAD trade ahead of next week’s BoC meeting.”
USD/CAD Levels
The 20 DMA is 1.0723, the 50 DMA is 1.0624 and the 200 DMA is 1.0404. RSI (14) reads 75.17. Supports are 1.0737, 1.0819,1.0836, 1.0875, and 1.0905. Spot is 1.0914 while resistances are 1.0996, 1.1075, 1.1103 and 1.1126.