Back
2 Apr 2014
USD/CAD fighting back
FXStreet (Guatemala) - Currently, USD/CAD is trading at 1.1033, up 0.09% on the day, having posted a daily high at 1.1043 and low at 1.1002.
USD/CAD is climbing back some ground on a number of bullish developments in the US. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise. Also worth noting, US yields are still rising in the wake of the data, US 10 year notes are up moving towards resistance area seen 2.80/2.82%.
USD/CAD RSI neutral
At the time of writing, RSI is neutral at 64.44, up from 53.14 at the last hour close, while ADX is ranging at 27.61, down from 29.22 previous. Meanwhile, daily RSI is in neutral territory at 43.06.
USD/CAD Levels
With spot trading at 1.1034, we can see next resistance ahead at 1.1036 (Daily Classic PP), 1.1043 (Daily High), 1.1043 (Hourly 100 SMA), 1.1060 (Daily Classic R1) and 1.1072 (Yesterday's High). Support below can be found at 1.1028 (Hourly 20 EMA), 1.1024 (Daily Open), 1.1024 (Weekly Low), 1.1011 (Yesterday's Low) and 1.1002 (Daily Low).
USD/CAD is climbing back some ground on a number of bullish developments in the US. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise. Also worth noting, US yields are still rising in the wake of the data, US 10 year notes are up moving towards resistance area seen 2.80/2.82%.
USD/CAD RSI neutral
At the time of writing, RSI is neutral at 64.44, up from 53.14 at the last hour close, while ADX is ranging at 27.61, down from 29.22 previous. Meanwhile, daily RSI is in neutral territory at 43.06.
USD/CAD Levels
With spot trading at 1.1034, we can see next resistance ahead at 1.1036 (Daily Classic PP), 1.1043 (Daily High), 1.1043 (Hourly 100 SMA), 1.1060 (Daily Classic R1) and 1.1072 (Yesterday's High). Support below can be found at 1.1028 (Hourly 20 EMA), 1.1024 (Daily Open), 1.1024 (Weekly Low), 1.1011 (Yesterday's Low) and 1.1002 (Daily Low).