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10 Mar 2014
USD/CAD levels to watch for
FXStreet (Guatemala) - USD/CAD is range bound at the start of the week after last weeks run up after better than expected jobs numbers from the US and a market assured that the Fed will continue tapering at the same pace.
“Strategists at TD Securities explained also that USD/CAD gains early Friday saw a little more follow through interest subsequently. “Gains have stalled… right around short-term trend resistance at 1.1126. Trend momentum has picked up a little more positively again on the 6-hour chart and we look for firm support intraday in the 1.1095/00 area now”. The following levels are key for a break out with particular emphasis on the upside at resistance 1.1148.
USD/CAD Levels
The 20 DMA is 1.1045, the 50 DMA is 1.0973 and the 200 DMA is 1.0558. RSI (14) reads 59.20. Supports are ascending from 1.0980, 1.1006, 1.1046 and 1.1071. Spot is 1.1105, 1.1148, 1.1160, 1.1196 and 1.1225.
“Strategists at TD Securities explained also that USD/CAD gains early Friday saw a little more follow through interest subsequently. “Gains have stalled… right around short-term trend resistance at 1.1126. Trend momentum has picked up a little more positively again on the 6-hour chart and we look for firm support intraday in the 1.1095/00 area now”. The following levels are key for a break out with particular emphasis on the upside at resistance 1.1148.
USD/CAD Levels
The 20 DMA is 1.1045, the 50 DMA is 1.0973 and the 200 DMA is 1.0558. RSI (14) reads 59.20. Supports are ascending from 1.0980, 1.1006, 1.1046 and 1.1071. Spot is 1.1105, 1.1148, 1.1160, 1.1196 and 1.1225.