OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CAD holds at 1.0263/64 after US durable goods

FXstreet.com (Barcelona) - The USD/CAD has held fast in positive territory Wednesday, following the release of economic data in the United States. In these moments the cross has settled at 1.0263/64 at the onset of US trading, up a tepid +0.08%.

Mataf.net analyst team identifies the next short-term resistances for the USD/CAD at 1.0284, 1.0301, and finally 1.0318. Conversely, a paring of gains will result in a testing of supports at 1.0250, onto 1.0233, and finally 10216.

In the United States, Durable Goods Orders (March) came in at -5.7%, against expectations of just -2.8%. Moreover, Durable Goods Orders ex Transportation yielded a figure of -1.4% in March, vs. a projection of +0.5%.

“The USD/CAD is struggling to push on through selling interest in the upper 1.02 area but the broader trend remains positive and we view the market as consolidating ahead of another push higher. Below 1.0260, there is a chance that spot drops back to the low 1.0200 support zone but while support holds, we continue to look for a quick push to the upper 1.03 area.” writes the TD Securities Team.

US Durable Goods Orders ex Transportation increase to -1.4% in Mar from -1.7% in Feb

Read more Previous

US: Durable Good Orders fell 5.7% in March

The Commerce Department has informed that orders for US long-lasting goods have contracted 5.7% MoM during March, missing expectations at -2.8%, and down from 4.3% (revised) in February...
Read more Next
Start livechat