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5 Jun 2013
USD/CAD trading near opening levels at 1.0340/41
FXstreet.com (Barcelona) - The USD/CAD has been unusually active in recent sessions, given the fluctuating strength of the USD and the anticipation of the fate of the QE program in the US.
Much like yesterday, a steady dose of economic data during US trading later should help move the pair. For Wednesday, Canada is slated to reveal Building Permits at 12:30 GMT, while the US will release a tranche of housing data.
At the time of writing, the pair has is now trading back at opening levels in the region of 1.0340/41, up a marginal +0.01%. As the pair remains at the crossroads, Mataf.net analysts calculate resistive measures for the USD/CAD at 1.0386, onto 1.0415, and ultimately 1.0470. On the pullback, a break below the 1.0302 handle will initiate supports at 1.0247 and 1.0218.
Much like yesterday, a steady dose of economic data during US trading later should help move the pair. For Wednesday, Canada is slated to reveal Building Permits at 12:30 GMT, while the US will release a tranche of housing data.
At the time of writing, the pair has is now trading back at opening levels in the region of 1.0340/41, up a marginal +0.01%. As the pair remains at the crossroads, Mataf.net analysts calculate resistive measures for the USD/CAD at 1.0386, onto 1.0415, and ultimately 1.0470. On the pullback, a break below the 1.0302 handle will initiate supports at 1.0247 and 1.0218.