OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CAD in lows around 1.0020/25

The Canadian dollar is sharply appreciating against the greenback on Tuesday, falling from today’s highs in the boundaries of 1.0090 to the current session lows in the vicinity of 1.0020

“The short-term rally seems well-underpinned, on the basis of the bullishly-oriented DMI oscillator, so we rather think that losses should remain relatively shallow intraday. Weakness below 1.0045 does, however, suggest the risk of a modestly deeper pullback in the next day or two. For the moment, we remain constructive and look at modest USD weakness as a buying opportunity still”, explained the FX research team at TD Securities.

At the moment, USD/CAD is losing 0.24% at 1.0024 facing the next support at 0.9995 (MA10d) ahead of 0.9992 (MA200d) and finally 0.9971 (low Feb.8).
On the upside, a breakout of 1.0101 (highs Jan.25/28) would expose 1.0105 (Upper Bollinger) and 1.0106 (high Jul.27).

Forex Flash: EUR/CHF year-end target at 1.22 – Scotiabank

The Swiss franc is trading flat on Tuesday, hovering over the area around 1.2340 despite the prevailing risk-on tone...
Read more Previous

Euro propelled by G7 and Draghi

Helped by other crosses, EUR/USD managed to bounce from levels sub-1.3400 and rose throughout the European and American sessions after the G7 statement on FX volatility and as EUR/CHF was lifted by SNB Jordan comments.
Read more Next
Start livechat