Post Tagged with: "USD/CAD Technical Analysis"

USDCAD: Triggers Corrective Recovery

With USDCAD still maintaining its downside bias (weekly chart), its broader bias remains lower. However, recovery cannot be ruled out following its Friday rally.

On the upside, on a follow through higher resistance stands at the 1.0950 level followed by the 1.1000 level and then the 1.1069 level. A cut through here will turn focus to the 1.1100 level and then the 1.1277 level

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USD/CAD Outlook May 12-16

USD/CAD Outlook May 12-16

The Canadian dollar posted gains for a second straight week, as USD/CAD ended the week below the 1.09 level, closing at 1.0887. This week has just four events, highlighted by Manufacturing Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD. The Canadian dollar improved despite some disappointing numbers last week. Ivey PMI [&hellip

USD/CAD: Rolls Over, Eyes The 1.0857 Level

USD/CAD: Rolls Over, Eyes The 1.0857 Level

USDCAD: With the pair selling off strongly during Tuesday trading session, further weakness is now envisaged in the days ahead. Support lies at the 1.0857 level with a break if seen targeting the 1.0800 level followed by the 1.0750 level. Below here will create scope for further downside towards the 1.0700 level where a breach [&hellip

USD/CAD Outlook May 5-9

USD/CAD Outlook May 5-9

USD/CAD posted modest losses last week, as the Canadian dollar ended the week below the key 1.10 level, closing at 1.0970. This week has five major events, highlighted by Employment Change. Here is an outlook on the major events and an updated technical analysis for USD/CAD. The Fed taper train continues to chug along, and the [&hellip

USD/CAD Outlook April 28-May 2

USD/CAD Outlook April 28-May 2

The lack of movement we have been seeing from USD/CAD continued last week, as the pair was almost unchanged, closing at 1.1039. This week has just three releases, highlighted by GDP.  Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian Core Retail Sales matched expectations. In the US, employment and housing data disappointed, [&hellip

USD/CAD Outlook April 14-18

USD/CAD Outlook April 14-18

The Canadian dollar dropped below the 1.09 last week for the first time since January. However, it was unable to hold onto these gains and closed the week almost unchanged, at 1.0968. This week’s highlights include Manufacturing Sales, the Overnight Rate and Core CPI.  Here is an outlook on the major events and an updated technical analysis for USD/CAD. [&hellip

USD/CAD Outlook April 7-11

USD/CAD Outlook April 7-11

The Canadian dollar showed some improvement on Friday and gained close to a cent on the week. The pair closed below the 1.10 level, at 1.0969. There are just four events this week, highlighted by Building Permits. Here is an outlook on the major events and an updated technical analysis for USD/CAD. The Canadian dollar got [&hellip

USD/CAD: Trading The Canadian GDP

USD/CAD: Trading The Canadian GDP

Canadian GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Monday at 12:30 GMT. [&hellip

USD/CAD Outlook Mar 31-Apr 4

USD/CAD Outlook Mar 31-Apr 4

The Canadian dollar rebounded nicely last week, as USD/CAD dropped about 160 points. The pair closed at 1.1059. There are a host of major events this week, highlighted by GDP and Employment Change. Here is an outlook on the major events and an updated technical analysis for USD/CAD. In the US, Unemployment Claims continue to improve [&hellip

USD/CAD: Further pressure on the cards

USD/CAD: Further pressure on the cards

USDCAD: The pair weakened further on Thursday leaving further pressure on the cards. Support lies at the 1.1000 level. We expect this big psycho level to hold and turn it higher but if breaks, further declining could occur towards the 1.0950 level and then the 1.0900 level. Bulls may come here and turn the pair [&hellip