by Thu, 02 Dec 2010 16:29:00 +0100
Forex: USD/CAD falls to 1.0050, 2-week low
FXstreet.com (Córdoba) – The USD/CAD broke below 1.0080 and fell further to 1.0052, hitting the lowest price since November 12, weakened by risk appetite. The pair is holding below 1.0080 and has fallen 230 pips in the last 48 hours.
“The Canadian dollar took on a life of its own through European trading as it was easily the top G10 performer. Oil is flat and there was no fundamental reason for the move. Flows appeared to be the culprit.”, ">said Adam Button, from Around FX.
Greenback reversed sharply after Wall Street opening and following better-than-expected data from the housing sector, it was rising but turned decisively lower across the board. Pending home sales in the US jumped 10.4% in October.
| Technical Analysis (2010-12-02 15:15 GMT) | |
|---|---|
USD/CAD 1.0056/1.0059 - O: 1.0166 H: 1.0175 L: 1.0164 C: 1.0171 | |
| Trend | R3: 1.0112 |
 | R2: 1.0087 |
| R1: 1.0062 | |
| S1: 1.0004 | |
| S2: 1.0029 | |
| S3: 1.0054 | |
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