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Forex: USD/CAD crosses over into negative territory at 1.0240/46

FXstreet.com (Barcelona) - The USD/CAD has been edging lower, after an earlier attempt at the upside was stonewalled at the 1.0255 region. In recent minutes, the pair has surrendered its gains on the day and descended towards the 1.0240/46 area at the time of writing. At this juncture the cross is recording a minor loss of -0.06% Friday.

“The CAD is still consolidating and we can’t exclude a possibility that the price movement may take the form of a classic continuation triangle pattern. Earlier the trends in the hourly charts formed a bullish cross.” writes Igor Sayadov, an analyst at RoboForex LP.

According to the Mataf.net Technical Analyst Team, supportive structures lie at 1.0207 ahead of 1.0178, and finally 1.0147. Conversely, resistances for the USD/CAD will initiate at 1.0267 onto 1.0293 and finally 1.0327.

Forex Flash: USD/CAD more bullish in the near-term – TD Securities

FX moves have been relatively mild, suggesting caution rather than concern among investors and the view that contagion from Cyprus can be contained, according to TD Securities analysts. In regard to the CAD, the budget news from Ottawa yesterday did not add any additional information to the CAD picture but did reaffirm Canada’s solid AAA credentials in a world where that is an increasingly rare attribute. “The underly-ing picture of slow domestic growth at present remains, however, and we rather think that the CAD is liable to softens modestly versus the USD in the near-to-medium term as a result”, wrote analysts Shaun Osborne and Greg Moore, a bit more bullish on the hourly/6-hourly charts. “Potential inverse H&S continuation pat-tern, with good support emerging this week on the dip to retracement support at 1.0180/85”, they added, pointing to more upside momentum above 1.0275/80.
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Forex: USD/CHF plunges to support at 0.9430/32 as Cyprus in focus

The USD/CHF has fallen on the news of Cyprus, as investors await further news on the rapidly fluctuating situation that has gripped currency markets this week. During European trading Friday, the cross has fallen to the 0.9430/32 region, down a staunch -0.43% off its opening.
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