by Mon, 12 Jul 2010 13:14:00 +0200
Forex: USD/CAD hovers around 1.0330
FXstreet.com (Barcelona) - After last Friday's whopping data in the Canadian jobless rate (7.9% actual vs 8.1% previous), the Loonie paused its sharp rise on Monday, resulting in tight whispsawing conditions leading the price to a neutral area near previous close at 1.0332 area.
As far as the frst day of the week goes, the pair traded in a tight range-bound, limited by 1.0298 on the downside (intra-day low) while a jump to 1.0342 (intra-day high) was USD biggest achievement so far. At the moment, the price stays put at 1.0330.
César Leiceaga, Technical Analyst at Delta Stock underscored that “long term bias for the USD/CAD remains neutral, a solid base is now formed a around parity level. Intraday: recently met the 61.8% in 1.0350 target. Resistance now in 1.0350 - 1.0400, look for a downtrend continuation to 1.0250 – 1.0200”.
| Technical Analysis (2010-07-12 11:03 GMT) | |
|---|---|
USD/CAD 1.0329/1.0335 - O: 1.0333 H: 1.0333 L: 1.0324 C: 1.0329 | |
| Trend | R3: 1.0393 |
 | R2: 1.0367 |
| R1: 1.0341 | |
| S1: 1.0273 | |
| S2: 1.0299 | |
| S3: 1.0324 | |
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