Back
23 Aug 2013
USD/CAD consolidates just above 1.0500
FXstreet.com (San Francisco) - After declining from 2-week high at 1.0565 to test the 1.0505 in the early Americcan seesion, the USD/CAD has been trading in consolidation mode in between 1.0505 and 1.0520. Currently The USD/CAD is pricing at 0.0510.
Almost flat on the day, the short term perspective is slightly bearish according to the FXstreet.com Trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels to watch
As for technical levels, USD/CAD immediate resistances line up at 1.0567 (daily high) and 1.0600 (psychological level), while supports are seen at 1.0500 (psychological level) and 1.0470 (Aug 22 low).
Almost flat on the day, the short term perspective is slightly bearish according to the FXstreet.com Trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels to watch
As for technical levels, USD/CAD immediate resistances line up at 1.0567 (daily high) and 1.0600 (psychological level), while supports are seen at 1.0500 (psychological level) and 1.0470 (Aug 22 low).