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26 Feb 2013
Forex: USD/CAD retraces from 1.0300
The Canadian dollar is picking up pace now, trimming earlier losses that pushed the cross to multi-month highs above the psychological level at 1.0300
According to G.Yu and G.Berry, Strategists at the Swiss bank UBS, the bank’s outlook remains bullish, adding at the same time, “The pair extends the bull trend posted a new recovery high. There is scope for more upside to test 1.0366. Support is at 1.0207 ahead of 1.0160”.
At the moment, the cross is up 0.16% at 1.0279 with the next resistance at 1.0342 (high Jun.29) ahead of 1.0363 (high Jun.28) and then 1.0382 (high Jun.6).
On the other hand, a break below 1.0139 (MA10d) would expose 1.0101 (high Jan.25) and then 1.0064 (MA21d).
According to G.Yu and G.Berry, Strategists at the Swiss bank UBS, the bank’s outlook remains bullish, adding at the same time, “The pair extends the bull trend posted a new recovery high. There is scope for more upside to test 1.0366. Support is at 1.0207 ahead of 1.0160”.
At the moment, the cross is up 0.16% at 1.0279 with the next resistance at 1.0342 (high Jun.29) ahead of 1.0363 (high Jun.28) and then 1.0382 (high Jun.6).
On the other hand, a break below 1.0139 (MA10d) would expose 1.0101 (high Jan.25) and then 1.0064 (MA21d).