Back
16 Jul 2013
USD/CAD topples below 1.0400 towards intraday lows
FXstreet.com (New York) - The USD/CAD foreign exchange rate made short work of the 1.0400 barrier, plunging below this region to establish fresh intraday lows during US trading.
At the time of writing, the USD/CAD is operating at jus 1.0365, having incurred a sizable loss of -0.54% off its opening as the USD weakens across the board. Following the break below support at 1.0396, the Mataf.net analyst team points to supportive measures at 1.0357, ahead of 1.0335.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD is gradually dropping affected by stabilizing below 38.2% correction at 1.0430, as stability below the referred to level might extend bearishness. RSI is trying to break line 50 to the downside, but the stochastic is still slightly positive which requires not stabilizing above the 1.0430 level.”
At the time of writing, the USD/CAD is operating at jus 1.0365, having incurred a sizable loss of -0.54% off its opening as the USD weakens across the board. Following the break below support at 1.0396, the Mataf.net analyst team points to supportive measures at 1.0357, ahead of 1.0335.
USD/CAD strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CAD is gradually dropping affected by stabilizing below 38.2% correction at 1.0430, as stability below the referred to level might extend bearishness. RSI is trying to break line 50 to the downside, but the stochastic is still slightly positive which requires not stabilizing above the 1.0430 level.”