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USD/CAD flat-lining below 1.1100

FXStreet (Edinburgh) - The greenback keeps the trade within a very narrow range vs. the Canadian dollar in the equator of the week, relegating the USD/CAD to the 1.1060-80 range.

USD/CAD eyes on 1.1100

The pair is extending the weekly recovery from Monday lows around 1.0930 to current levels in the 1.1070/80 band, although the 1.1100 barrier still remains elusive for USD bulls. Ahead in the day, US New Home Sales (430K exp. in August) and some Fedspeak could spark some volatility in the pair. In the view of Shaun Osborne, Chief FX Strategist at TD Securities, “On the charts, a close above 1.1060 yesterday constitutes a positive signal and opens a retest on the low 1.11s, but we believe funds will move to the tune of the broader USD trends on the day, which suggest the pair will trade the 1.1030/1.1100 range”.

USD/CAD key levels

At the moment the pair is flat at 1.1078 with the next hurdle at 1.1084 (high Sep.23) ahead of 1.1100 (high Sep.15) and finally 1.1106 (high Mar.27). On the downside, a break below 1.0994 (Tenkan Sen) would open the door to 1.0986 (low Sep.23) and then 1.0955 (Kijun Sen).

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USD/JPY remains in range while tries to go beyond 108.80

With a few exceptions, the USD/JPY has been trading in a 108.50/109.00 range since September 17 and today's trading the pair tested the lower side at 108.50 but it was contained and now it is attempting to recover prices above 108.75.
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