by Thu, 08 Jul 2010 15:48:00 +0200
Forex: USD/CAD breaks below 1.0400
FXstreet.com (Córdoba) – The Canadian Dollar is rising further against Greenback amid a rally in US stocks. Risk appetite is supporting currencies tied to commodities that reached fresh highs against the Dollar. USD/CAD broke below 1.0400 and fell to 1.0378, hitting a fresh 1-week low.
Currently trades at 1.0384/88, 0.75% below today’s opening price. The pair has now fallen more than 200 pips since the beginning of the week.
Against the Euro, the Lonnie is also rising considerably on Thursday. EUR/CAD fell below 1.3200 and tumbled to 1.3171, reaching a fresh weekly low.
| Technical Analysis (2010-07-08 13:38 GMT) | |
|---|---|
USD/CAD 1.039/1.0395 - O: 1.04 H: 1.0406 L: 1.0385 C: 1.0391 | |
| Trend | R3: 1.0457 |
 | R2: 1.0431 |
| R1: 1.0405 | |
| S1: 1.0333 | |
| S2: 1.0359 | |
| S3: 1.0385 | |
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