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15 Aug 2013
USD/CAD collapses to 1.0300
FXstreet.com (San Francisco) - The USD/CAD has extended its decline from intra-day high at 1.0365 to test the 1.0300 region again after a suddenly movement who drove the USD down across the market.
As Adam Buttom from ForexLive said in a recent report: "This is not on any particular headline. It looks like a series of cascading stops after USD/JPY fell through the lows of the day."
Currently, the USD/CAD is trading at 1.0315, 0.22% negative 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.
Next support is 1.0300 ahead of 1.0290 and 1.0275. On the upside, resistances are at 1.0360, 1.0370 and 1.0400.
As Adam Buttom from ForexLive said in a recent report: "This is not on any particular headline. It looks like a series of cascading stops after USD/JPY fell through the lows of the day."
Currently, the USD/CAD is trading at 1.0315, 0.22% negative 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.
Next support is 1.0300 ahead of 1.0290 and 1.0275. On the upside, resistances are at 1.0360, 1.0370 and 1.0400.