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17 Jul 2013
USD/CAD sails to session highs
FXstreet.com (New York) - The USD/CAD technical pair sailed higher after the recent BoC and Bernanke Speech Wednesday, having recently peaked at the 1.0439 level during US trading.
In these moments, the USD/CAD is still trading positively, though has moved back to the 1.0423 region, now up a robust +0.52%. The USD/CAD has been unable to breach its short-term resistances thus far, which are located at 1.0442, onto 1.0472, and 1.0526, notes the Danske Research Team.
USD/CAD strategic bias
According to the TD Securities Team, “The Fed served as a bigger driver of the CAD than the BoC today and the market is still shaping up somewhat negatively for the USD as the USD/CAD pressures the low end of the recent consolidation. We continue to lean more bullishly towards the USD.”
In these moments, the USD/CAD is still trading positively, though has moved back to the 1.0423 region, now up a robust +0.52%. The USD/CAD has been unable to breach its short-term resistances thus far, which are located at 1.0442, onto 1.0472, and 1.0526, notes the Danske Research Team.
USD/CAD strategic bias
According to the TD Securities Team, “The Fed served as a bigger driver of the CAD than the BoC today and the market is still shaping up somewhat negatively for the USD as the USD/CAD pressures the low end of the recent consolidation. We continue to lean more bullishly towards the USD.”