by Wed, 06 Oct 2010 18:08:00 +0200
Forex: USD/CAD heading towards parity
FXstreet.com (Buenos Aires) – Canadian dollar has reached a fresh 6-month high against greenback at 1.0061 as dollar weakness along with better than expected Ivey PMI in Canada that come out at 70.3, best reading since June 2006, pushed the pair lower. Oil barrel, that reached the $84.00 price zone today and remains near that level, has also favored the loonie gains, as Canada is among the 10 bigger oil producers of the world.
Next support for the pair comes at parity, followed later by the 0.9930 price zone, past April 2010 monthly low. From current level, resistances are located at 1.0100 and 1.0140, June 2010 monthly low.
| Technical Analysis (2010-10-06 16:00 GMT) | |
|---|---|
USD/CAD 1.0069/1.0073 - O: 1.0309 H: 1.0313 L: 1.0303 C: 1.0307 | |
| Trend | R3: 1.0130 |
 | R2: 1.0105 |
| R1: 1.0080 | |
| S1: 1.0023 | |
| S2: 1.0048 | |
| S3: 1.0073 | |
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