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5 Apr 2013
Forex: USD/CAD trading positively at 1.0136/37
FXstreet.com (Barcelona) - The USD/CAD has edged higher during European trading, recovering off it lows of 1.0122 Friday. Having moved into positive territory recently, the pair now is clinging to narrow gains of +0.10% ahead of several economic indicators later this afternoon, whilst settling at 1.0136/37.
According to the ICN.com analyst team, “Prolonged stability below the 1.0140 level might extend the bearish move, reaching 1.0015 levels towards the minor support at 1.0075.”
Mataf.net analysts point to supports at 1.0162, onto the 1.0196 handle, and finally 1.0225. On the decline, a break below the 1.0099 level will initiate resistance at 1.0070 and 1.0036.
Later today at 12:30 GMT, investors will be briefed with several Canadian economic indicators as well as a tranche of US data, including the anticipated Nonfarm payrolls data.
According to the ICN.com analyst team, “Prolonged stability below the 1.0140 level might extend the bearish move, reaching 1.0015 levels towards the minor support at 1.0075.”
Mataf.net analysts point to supports at 1.0162, onto the 1.0196 handle, and finally 1.0225. On the decline, a break below the 1.0099 level will initiate resistance at 1.0070 and 1.0036.
Later today at 12:30 GMT, investors will be briefed with several Canadian economic indicators as well as a tranche of US data, including the anticipated Nonfarm payrolls data.