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13 Aug 2013
USD/CAD highs 1.0333
FXstreet.com (Barcelona) - USD/CAD has risen to print highs and meeting Fridays resistance above 1.0330.
The Canadian data calendar remains quite thin, and research teams at TD Securities said this should leave the focus for USD/CAD on the several US releases. “The highlights include retail sales (Tues), CPI (Thurs), industrial production (Thurs), housing starts (Fri), and the U.S Michigan confidence survey (Fri). From the Fed, we’ll hear from Lockhart (Tues) and Bullard (Wed)”.
USD/CAD on the move
On the charts, they said, USD/CAD has traded higher from Friday’s low, leaving the late-July/early-August trading range firmly intact. “The pair’s failure to follow through on some of the bullish signals from early last week was a disappointment to USD/CAD bulls, and while price action is looking more neutral in the short and medium term perspective, our broader bias remains higher still as long as the 1.0250 support holds in the coming days”. They suggest that, on the topside, there is a little more room for movement with key resistance further away in the 1.0440/45 area.
The Canadian data calendar remains quite thin, and research teams at TD Securities said this should leave the focus for USD/CAD on the several US releases. “The highlights include retail sales (Tues), CPI (Thurs), industrial production (Thurs), housing starts (Fri), and the U.S Michigan confidence survey (Fri). From the Fed, we’ll hear from Lockhart (Tues) and Bullard (Wed)”.
USD/CAD on the move
On the charts, they said, USD/CAD has traded higher from Friday’s low, leaving the late-July/early-August trading range firmly intact. “The pair’s failure to follow through on some of the bullish signals from early last week was a disappointment to USD/CAD bulls, and while price action is looking more neutral in the short and medium term perspective, our broader bias remains higher still as long as the 1.0250 support holds in the coming days”. They suggest that, on the topside, there is a little more room for movement with key resistance further away in the 1.0440/45 area.