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13 Feb 2013
Forex: USD/CAD printing session lows, around 1.0010/15
The Lonnie is approaching to the parity level on Wednesday, currently hovering over the area around 1.0015/10, as the US dollar is losing some traction.
According to the research team at TD Securities, “We are still more bullishly-biased in our broader outlook for funds but the struggle the USD has had with the 1.0050 area in the past few days is starting to wear down the bullish feeling in the market more generally. Softness earlier in European trade today is spilling over into North American trade and puts short-term support at 0.9990/95 at some risk in the next few hours”.
At the moment, the cross is losing 0.05% at 1.0017 facing the next support at 1.0013 (low Feb.13) ahead of 0.9995 (MA10d) and then 0.9992 (MA200d).
On the flip side, a break above 1.0044 (high Feb.13) would open the door to 1.0088 (high Feb.12) and then 1.0091 (Upper Bollinger).
According to the research team at TD Securities, “We are still more bullishly-biased in our broader outlook for funds but the struggle the USD has had with the 1.0050 area in the past few days is starting to wear down the bullish feeling in the market more generally. Softness earlier in European trade today is spilling over into North American trade and puts short-term support at 0.9990/95 at some risk in the next few hours”.
At the moment, the cross is losing 0.05% at 1.0017 facing the next support at 1.0013 (low Feb.13) ahead of 0.9995 (MA10d) and then 0.9992 (MA200d).
On the flip side, a break above 1.0044 (high Feb.13) would open the door to 1.0088 (high Feb.12) and then 1.0091 (Upper Bollinger).