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19 Dec 2013
USD/CAD goes downhill; 1.0681 lows
FXstreet.com (Chicago) - USD/CAD stays under pressure and oscillates around the 1.0680/90 zones close to 1.0681 session highs.
Recently published US economic results reveal mixed performances for the housing market data and manufacturing industry. At -4.3%, existing home sales change failed to meet -1.5% expectations while the Philadelphia Fed Manufacturing survey was 7 vs. estimates at 10.
USD/CAD Technical Levels
Price action reveals the pair extends losses after retracing from 3 and a half highs starting yesterday. Around the 23.6% Fibonacci level (1.0570/ 1.0727), the pair is offered at 1.0691 and oscillates between the supports aligned at 1.0666 (December 12th highs), 1.0619 (December 6th lows) ahead of 1.0571 (December 13th lows) and the resistances set at 1.07 (December 5th highs), 1.0727 (December 18th highs) followed by 1.0780 (December 27th 2009 highs).
Recently published US economic results reveal mixed performances for the housing market data and manufacturing industry. At -4.3%, existing home sales change failed to meet -1.5% expectations while the Philadelphia Fed Manufacturing survey was 7 vs. estimates at 10.
USD/CAD Technical Levels
Price action reveals the pair extends losses after retracing from 3 and a half highs starting yesterday. Around the 23.6% Fibonacci level (1.0570/ 1.0727), the pair is offered at 1.0691 and oscillates between the supports aligned at 1.0666 (December 12th highs), 1.0619 (December 6th lows) ahead of 1.0571 (December 13th lows) and the resistances set at 1.07 (December 5th highs), 1.0727 (December 18th highs) followed by 1.0780 (December 27th 2009 highs).