CATEGORY USD/CAD

USD/CAD – Canadian Dollar Trading Sideways

The Canadian dollar continues to have an uneventful week. In the Tuesday’s session, the pair is trading at 1.2587, up 0.07% on the day. On the release front, there are no Canadian indicators on the schedule. In the US, the sole indicator is the NFIB Small Business Index, which improved to 106.9, above the estimate…

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Weekly FX Market Update – 6 February 2018 (Video)

It’s been an extremely turbulent 24 hours in the financial market with the Dow recording its largest ever daily points drop as panic set in and traders tried to work out what was triggering such a strong sell-off. Markets have stabilized a little on Tuesday but there remains some concern among traders which continues to…

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Dollar Rebounds After Strong Jobs Report

US added 200,000 positions in January The US dollar rose against major pairs on Friday. The release of the U.S. non farm payrolls (NFP) proved to be the much needed shot in the arm after the greenback was under pressure for most of 2018. The job gains were above expectations but more importantly the hourly…

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USD/CAD breaks below 1.3900 to complete retracement of 2016 rally

FXStreet (Córdoba) – USD/CAD broke below 1.3900 and printed fresh monthly lows amid broad USD weakness and with the Canadian dollar underpinned by a recovery in oil prices.

USD/CAD has almost retraced its 2016 rally, which led the pair to a 13-year peak of 1.4689 in January, having lost more than 800 pips ever since. On Wednesday, USD/CAD was rejected by the 1.41 zone, and lost more than 250 pips, breaking below the 50-day SMA, to a low of 1.3827, last seen Jan 4.

At time of writing, USD/CAD is trading at 1.3830, down 1.59% on the day, on track to post its ninth daily loss out of the last 11 trading days.

USD/CAD levels to watch

As for technical levels, next supports are seen at 1.3812 (Jan 4 low), 1.3800 (psychological level) and 1.3777 (Dec 17 low). On the flip side, resistances could be found at 1.4075 (10-day SMA), 1.4100 (Feb 3 high/psychological level) and 1.4121 (Jan 28 high).

USD/CAD broke below 1.3900 and printed fresh monthly lows amid broad USD weakness and with the Canadian dollar underpinned by a recovery in oil prices.

(Market News Provided by FXstreet)

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