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Forex: USD/CAD flat around 1.0260/70

FXstreet.com (Barcelona) - The cross is trading in a narrow 1.0260/70 range on Wednesday, as markets continue to favour the demand for riskier assets.

“The pace of durable goods orders should decline sharply in March, as weaker Boeing orders push headline orders down -3.2% M/M… and orders excluding transportation should also be weak, mostly on account of the pullback in military spending due to sequestration”, suggested Annette Beacher, Strategist at TD Securities.

As of writing, the pair is up 0.04% at 1.0261 facing the next hurdle at 1.0286 (high Apr.22) followed by 1.0295 (high Apr.17) and finally 1.0315 (high Mar.8).
On the downside, a breach of 1.0248 (low Apr.22) would aim for 1.0227 (MA10d) and then 1.0210 (low Apr.17).

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