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16 Aug 2013
USD/CAD capped around 1.0330
FXstreet.com (Edinburgh) -The Canadian dollar is losing ground vs. its fellow neighbour on Friday, driving the USD/CAD around 1.0320 ahead of US/Canada docket.
USD/CAD supported around 1.0280
A quick look to the weekly charts shows that the decline from June highs in the region of 1.0600 seems to have found good support in the 1.0250/80 band so far, although levels around 1.0370 are acting as tough upside barriers. Second-tier data are expected in Canada today, with Manufacturing Shipments (0.5% exp.) and Foreign Portfolio in Canadian securities ($7.7 billion exp.). However, the attention would shift to the US docket, where the housing sector and the Reuters/Michigan index will be on centre stage.
USD/CAD levels to watch
The pair is now advancing 0.16% at 1.0323 with the next hurdle at 1.0370 (high Aug.14) followed by 1.0380 (61.8% of 1.0445-1.0275) and then 1.0430 (high Aug.8). On the flip side, a breach of 1.0285 (MA100d) would expose 1.0275 (low Aug.9) and finally 1.0245 (low Jul.31).
USD/CAD supported around 1.0280
A quick look to the weekly charts shows that the decline from June highs in the region of 1.0600 seems to have found good support in the 1.0250/80 band so far, although levels around 1.0370 are acting as tough upside barriers. Second-tier data are expected in Canada today, with Manufacturing Shipments (0.5% exp.) and Foreign Portfolio in Canadian securities ($7.7 billion exp.). However, the attention would shift to the US docket, where the housing sector and the Reuters/Michigan index will be on centre stage.
USD/CAD levels to watch
The pair is now advancing 0.16% at 1.0323 with the next hurdle at 1.0370 (high Aug.14) followed by 1.0380 (61.8% of 1.0445-1.0275) and then 1.0430 (high Aug.8). On the flip side, a breach of 1.0285 (MA100d) would expose 1.0275 (low Aug.9) and finally 1.0245 (low Jul.31).