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19 Dec 2013
USD/CAD forges grounds at 1.0660 front
FXstreet.com (Chicago) - USD/CAD finds the feet to stand back up after continuous derailment that led the pair to lose the 1.0670 zone.
With mixed US market results with small changes throughout the day, the EIA natural gas storage change decreased, oil jumped in price and housing market results in the US worsened.
USD/CAD Technical Levels
Price action reveals the pair is offered at 1.0663 and oscillates between the supports aligned at 1.0619 (December 7th lows), 1.0571 (December 16th lows) ahead of 1.0516 (November 26th lows) and the resistances set at 1.1066 (December 12th highs), 1.07 (December 8th highs) followed by 1.0727 (December 18th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and flows below the EMA20.
With mixed US market results with small changes throughout the day, the EIA natural gas storage change decreased, oil jumped in price and housing market results in the US worsened.
USD/CAD Technical Levels
Price action reveals the pair is offered at 1.0663 and oscillates between the supports aligned at 1.0619 (December 7th lows), 1.0571 (December 16th lows) ahead of 1.0516 (November 26th lows) and the resistances set at 1.1066 (December 12th highs), 1.07 (December 8th highs) followed by 1.0727 (December 18th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and flows below the EMA20.