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12 Nov 2014
USD/CAD softer near 1.1310
FXStreet (Edinburgh) - The greenback is losing the grip vs. its Canadian counterpart on Wednesday, dragging USD/CAD to the lower band of the range around 1.1315/10.
USD/CAD supported at 1.1300
Apathetic first half of the week for the pair so far, with no relevant releases in both Canada and the US. Spot continues to meander between 1.1300 and 1.1400 in response to the lack of relevant catalysts, while market participants wait for the weekly report on the US labour market and the BoC Review, both due tomorrow, and Retail Sales and the Reuters/Michigan index to be published on Friday.
USD/CAD levels to watch
The pair is now losing 0.05% en 1.1321 with the immediate support at 1.1300 (psychological level) ahead of 1.1294 (Tenkan Sen) and then 1.1264 (low Nov.3). On the upside, a breakout of 1.1359 (high Nov.12) would target 1.1402 (high Nov.11) en route to 1.1450 (high Nov.7).
USD/CAD supported at 1.1300
Apathetic first half of the week for the pair so far, with no relevant releases in both Canada and the US. Spot continues to meander between 1.1300 and 1.1400 in response to the lack of relevant catalysts, while market participants wait for the weekly report on the US labour market and the BoC Review, both due tomorrow, and Retail Sales and the Reuters/Michigan index to be published on Friday.
USD/CAD levels to watch
The pair is now losing 0.05% en 1.1321 with the immediate support at 1.1300 (psychological level) ahead of 1.1294 (Tenkan Sen) and then 1.1264 (low Nov.3). On the upside, a breakout of 1.1359 (high Nov.12) would target 1.1402 (high Nov.11) en route to 1.1450 (high Nov.7).