OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CAD jumps to test 1.0390

FXstreet.com (San Francisco) - After jumping around 70 pips in the last hour from 1.0325, the USD/CAD has broken the 1.0365 area to reach highest level since May 23th at 1.0390. Currently the pair is trading at 1.0375, 0.34% positive on the day.

The short term perspective in the USD/CAD is slightly bullish according to the FXstreet.com trend index in the 15-minutes chart. Indicators such as MACD, CCI and Momentum are bullish while the Stochastic is bearish.

Above the 1.0390, next resistances are at 1.0400 and 1.0445. On the downside, 1.0365, 1.0350 and 1.0325 are supports.

Flash: Yen devaluation boosts Japanese deflation prospects – RBS

According to Analyst Junko Nishioka at RBS, “Accelerated yen depreciation is starting to boost prospects of Japan finally overcoming deflation, but is also beginning to raise concerns about an adverse impact on the economy via higher costs.”
Read more Previous

AUD/USD bouncing off 0.9620

The sharp decline in the Aussie dollar apparently found some respite in the vicinity of 0.9620, dragged lower by the stronger-than-expected US Consumer Confidence in May...
Read more Next
Start livechat