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29 Apr 2013
Forex: USD/CAD intensifies the downside
FXstreet.com (Barcelona) - The Canadian dollar is extending its strength at the beginning of the week, dragging the cross below 1.0150 as the greenback continues to trade on the back foot.
“Support is at 1.0128, a break below this would extend the weakness to 1.0084 and 1.0071. Resistance is at 1.0214 ahead of 1.0294”, suggested G.Yu and G.Berry, Strategists at the Swiss lender UBS.
As of writing, the cross is losing 0.24% at 1.0143 with the next support at 1.0084 (low Apr.11) followed by 1.0076 (MA100d) and then 1.0055 (low Feb.18).
On the upside, a break above 1.0214 (high Apr.26) would bring 1.0230 (MA10d) and finally 1.0258 (high Apr.25).
“Support is at 1.0128, a break below this would extend the weakness to 1.0084 and 1.0071. Resistance is at 1.0214 ahead of 1.0294”, suggested G.Yu and G.Berry, Strategists at the Swiss lender UBS.
As of writing, the cross is losing 0.24% at 1.0143 with the next support at 1.0084 (low Apr.11) followed by 1.0076 (MA100d) and then 1.0055 (low Feb.18).
On the upside, a break above 1.0214 (high Apr.26) would bring 1.0230 (MA10d) and finally 1.0258 (high Apr.25).