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24 Feb 2014
USD/CAD relentlessly continuing on the offer
FXStreet (Guatemala) - USD/CAD is extending the bearish short term trend from the highs of last week and last traded at time of writing 1.1060 with a low of 1.1057 and a high of 1.1144.
Strategists at TD Securities explained also that USD/CAD has eased back further since last Friday’s push to retest the 1.12 area. “The 1.1175/1.1225 area now looks fairly stiff short-term resistance for the USD and we could see some further retracement in USD/CAD of last week’s rally near-term (50% Fibonacci support stands at 1.1044) before the market steadies and resumes the move up. Support (key, short-term) now stands at 1.0910 (potential range break down point)”.
USD/CAD Levels
The 20 DMA is 1.1067, the 50 DMA is 1.0895 and the 200 DMA is 1.0525. RSI (14) reads 64.78. Supports are ascending from 1.1000 and 1.1025. Spot is 1.1061 while resistances are 1.1093, 1.1120, 1.1196, 1.1225, 1.1300 and 1.1349.
Strategists at TD Securities explained also that USD/CAD has eased back further since last Friday’s push to retest the 1.12 area. “The 1.1175/1.1225 area now looks fairly stiff short-term resistance for the USD and we could see some further retracement in USD/CAD of last week’s rally near-term (50% Fibonacci support stands at 1.1044) before the market steadies and resumes the move up. Support (key, short-term) now stands at 1.0910 (potential range break down point)”.
USD/CAD Levels
The 20 DMA is 1.1067, the 50 DMA is 1.0895 and the 200 DMA is 1.0525. RSI (14) reads 64.78. Supports are ascending from 1.1000 and 1.1025. Spot is 1.1061 while resistances are 1.1093, 1.1120, 1.1196, 1.1225, 1.1300 and 1.1349.