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6 Sep 2013
USD/CAD falls back below 1.0400
FXstreet.com (Córdoba) - Following disappointing US employment figures a second wave of selling hit the greenback, sending USD/CAD to fresh lows.
USD/CAD weighed by jobs data, Ivey PMI
The Loonie has been also underpinned by strong domestic employment figures and a better-than-expected Ivey PMI, having reached its strongest level in 2 weeks in recent dealings. The Ivey Purchasing Managers Index was at 51.0 on a seasonally adjusted basis in August, indicating that purchasing activity in Canada expanded from July.
USD/CAD technical levels, 100-day SMA eyed
At time of writing, USD/CAD is trading at the 1.0395 zone, down 1.0% on the day, having bottomed out at 1.0386. In terms of technical levels, immediate supports are seen at 1.0386 (daily low) and 1.0330 (100-day SMA), while resistances line up at 1.0440 (20-day SMA) and the 1.0500/05 zone (psychological level/daily high).
USD/CAD weighed by jobs data, Ivey PMI
The Loonie has been also underpinned by strong domestic employment figures and a better-than-expected Ivey PMI, having reached its strongest level in 2 weeks in recent dealings. The Ivey Purchasing Managers Index was at 51.0 on a seasonally adjusted basis in August, indicating that purchasing activity in Canada expanded from July.
USD/CAD technical levels, 100-day SMA eyed
At time of writing, USD/CAD is trading at the 1.0395 zone, down 1.0% on the day, having bottomed out at 1.0386. In terms of technical levels, immediate supports are seen at 1.0386 (daily low) and 1.0330 (100-day SMA), while resistances line up at 1.0440 (20-day SMA) and the 1.0500/05 zone (psychological level/daily high).