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13 Mar 2014
USD/CAD slowing up in mid 1.10’s
FXStreet (Guatemala) - USD/CAD is supported in the 1.1040’s after a break below the channels supporting level and catching demand there with an advance into the 1.1060’s.
Strategists at TD Securities noted that USD/CAD patterns on the daily chart remain somewhat subdued, with recent gains capped in the mid 1.11s and against trend resistance which has dropped to 1.1136 today. “Weakness intraday has been confined to the 40-day MA (more or less) and we note trend support on the daily chart should reinforce the downside a little more. Look for more, broader range trading for now. We are bullish above 1.1135/55 and can allow for USD/CAD to drop to 1.0975/80 and still view trends as consolidative”.
USD/CAD Levels
The 20 DMA is 1.1061, the 50 DMA is 1.1010 and the 200 DMA is 1.0573. RSI (14) reads 29.57. Supports are ascending from 1.0955, 1.0980, 1.1046, 1.1065 and 1.1090. Spot is 1.1164 while resistances are 1.1196, 1.1225 and 1.1300.
Strategists at TD Securities noted that USD/CAD patterns on the daily chart remain somewhat subdued, with recent gains capped in the mid 1.11s and against trend resistance which has dropped to 1.1136 today. “Weakness intraday has been confined to the 40-day MA (more or less) and we note trend support on the daily chart should reinforce the downside a little more. Look for more, broader range trading for now. We are bullish above 1.1135/55 and can allow for USD/CAD to drop to 1.0975/80 and still view trends as consolidative”.
USD/CAD Levels
The 20 DMA is 1.1061, the 50 DMA is 1.1010 and the 200 DMA is 1.0573. RSI (14) reads 29.57. Supports are ascending from 1.0955, 1.0980, 1.1046, 1.1065 and 1.1090. Spot is 1.1164 while resistances are 1.1196, 1.1225 and 1.1300.