OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CAD trading at session highs at 1.0091/93

FXstreet.com (Barcelona) - The USD/CAD shot upwards during overnight trading yesterday – subsequently this movement was rounded out a robust opening Friday. During European trading, the cross is now trading at session highs, establishing a new figure of 1.0091/93 in these moments, en route to a +0.24% gain this far.

According to the ICN.com Technical Analyst Team, “The USD/CAD rebounded to the upside from the second target of the bearish harmonic Bat Pattern. The upside move force us to think that 61.8% correction at 1.005 is strong enough to support some bullish resistance, as it remains valid by stabilizing above the psychological barrier 1.0000.”

Mataf.net analysts point to resistive means for the USD/CAD at 1.0106, onto 1.0137, and ultimately 1.0183. Conversely, a break below the 1.0029 handle will initiate support at 0.9983 and 0.9952.

Later today at 12:30 GMT, investors will learn of several key indicators out of Canada, including the Unemployment Rate and Net Change of Employment in April.

Forex: AUD/USD consolidates losses below 1.0100

Downbeat momentum in riskier assets and high beta currencies continues to weight on the Aussie dollar, with any attempt of escalate further levels seem to be capped by the key resistance at 1.0100 on Friday...
Read more Previous

Forex: USD/CHF – Trading at the high of 0.9534 - Lining up for a triple top?

The USD/CHF has extended its gains since yesterday's open at 0.9362 and has surged throughout Northern America, Asian and now round two of the London's session and above Nov 2012 highs 0.9517.
Read more Next
Start livechat